New information from market intelligence agency Santiment reveals one altcoin that has seen large features this yr is rife with whale exercise.
In a brand new thread on the social media platform X, Santiment says that amongst altcoins with a minimum of a $500 million market cap, tokenized synthetic intelligence (AI) mission Virtuals (VIRTUAL) – an asset that’s up a staggering 20,000% year-to-date – is among the leaders when it comes to whale exercise.
Santiment additionally says high-net-worth traders are making strikes to build up 10 digital belongings together with VIRTUAL throughout the newest crypto market crash.
“Regardless of sizable crypto corrections this week, a number of altcoins are making very giant whale transfers which can be indicative of potential dip buys.”
Different notable altcoins on the record embrace stablecoin issuer Common (USUAL) and its stablecoin Common USD (USD0), decentralized betting platform Gnosis (GNO), decentralized finance (DeFi) mission Aave (AAVE), in addition to meme asset Floki (FLOKI).
VIRTUAL is buying and selling for $2.74 at time of writing, a virtually 20% achieve on the day. On December sixteenth, it peaked at $3.34 whereas a yr in the past, it was shifting for round $0.013.
Transferring on to the highest crypto asset by market cap, Santiment says that Bitcoin’s (BTC) newest drop to below $100,000 has induced a “purchase the dip” mentality amongst traders.
“With Bitcoin falling as little as $95,500 immediately, the ratio of crypto discussions which can be about shopping for crypto’s dip has reached its highest stage in over eight months. The final time we noticed the gang almost this obsessed with dip shopping for was the main crash on August 4th. Since that point, Bitcoin’s market cap is +81% increased.”
Bitcoin is buying and selling for $97,006 at time of writing, a fractional lower over the last 24 hours.
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