Crypto giants aren’t selling despite the storm! Why?

A study released on August 5, 2024, showed that big names in asset management, like BlackRock, Fidelity, Greyscale, and MicroStrategy, did not freak out when the crypto market dropped a lot. These institutions didn't sell their assets like many buyers did; they kept them! Clearly showing unwavering faith in the potential of cryptocurrencies in the long run.

There were huge sell-offs during the market crash, but after the US market opened, there was a noticeable rebound. Prices of Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), three major cryptocurrencies, went up by 10%, 12%, and 22%, respectively. Part of this comeback was due to the launch of a Bitcoin ETF in the US, which led to $1.3 billion worth of trades in just one hour! Increasing the trust of traders and investors.

Even though the market is recovering, some big whales and companies are still moving a lot of crypto to Binance. One whale bank address put in 19,557 ETH, which is worth $48.14 million, and Metapha put in 10,000 ETH, which is worth $25.5 million. It looks like some big players in the market are being cautious with these moves, even though asset managers like BlackRock and Fidelity are staying put.

The numbers show that BlackRock has 342,700 BTC, Fidelity has 180,000 BTC, Greyscale has 226,500 BTC, and MicroStrategy has 226,500 BTC. Even though the market was volatile, they chose not to sell. This shows that they have a long-term plan and believe in the strength of crypto. This is different from how individual investors usually do things, who react more strongly to changes in the market.

BlackRock, Fidelity, Greyscale, and MicroStrategy's ability to stay stable during times of market volatility sends a strong message about their long-term goals. As the market continues to improve, other investors may follow the lead of these big asset managers and put their money where their mouths are.