Renowned crypto analytics firm Santiment explores the range of motion of Bitcoin and Ripple (XRP) whales and predicts five altcoin projects are on top of the rise.
Santiment: Bitcoin whales are piling up in the middle of a deep Bitcoin correction!
The firm’s data shows that Bitcoin whales holding 10,000 BTC or more are still accumulating the leading cryptocurrency in the midst of a deep Bitcoin correction. Santiment adds the following to his comments on the subject:
Huge Bitcoin whale addresses (with more than 10,000 BTC) keep getting richer and accumulating as prices change, especially after their all-time high two weeks ago. A total of approximately 90,000 BTC (US $ 4.92 billion) has been added to these addresses since April 5.
Ali Martinez: 19 new XRP whales! Altcoin may hit the new year’s heights
Over the past two weeks, BTC has dropped nearly 15%, testing the $ 47,000 support level. On-chain analyst Ali Martinez highlights data from Santiment showing that XRP whales are actively buying more tokens as the price hovers around $ 1.40. Ali Martinez adds the following to his comments on the subject:
XRP whales went on a buying spree. Santiment reveals that 19 new addresses with more than 1,000,000 XRP have joined the network since April 23. Further upside pressure could take this cryptocurrency to new year’s highs.
Santiment: These 5 altcoins seem ready for the rally
Santiment also highlights five altcoin projects that might be ready for the rally, based on in-chain metrics that show trend lines for “total daily activity” and trend lines for “daily active deposits.” Hovering around $ 2.780, its all-time high, Ethereum still shows strong bullish signals when looking at the highlighted indicator, according to CoinGecko.
Many new Ethereum addresses have been created recently, and this is helping the coin to take to new heights. The cryptocurrency with the lowest market value, which Santiment emphasizes based on daily active deposits and pays attention to activity trend lines, is Brave Browser’s Basic Attention Token (BAT). The other three are: decentralized finance (DeFi) project Maker (MKR), game token Enjin (ENJ), and virtual reality project Decentraland (MANA).