Data shows that the largest of the Shiba Inu and Ethereum exchange wallets have seen recent withdrawals, a sign that could be bullish for their prices.
Shiba Inu, Ethereum, & Chainlink Are Among Coins Seeing Exchange Outflows
As explained by the on-chain analytics firm Santiment in a new post on X, the top 10 exchange wallets on the SHIB, ETH, and LINK networks have recently seen their supplies go down.
The “top 10 exchange wallets” refer to the ten largest wallets currently attached to centralized exchanges. Naturally, such large wallets would belong to the largest investors in the market, humongous even among the whales.
Generally, any address’ influence on the network rises as its holdings go up, so the top 10 exchange wallets would be among the most influential investors in the market. As such, the trend in their combined supply can be worth keeping an eye on for any cryptocurrency.
Below is a chart that shows…
