The recent report by Santiment explores whale activity in the cryptocurrency market, highlighting altcoins with increased interest and potential volatility.
Overview of Whale Activity
Santiment analyzed large investor transactions (whales) with a volume exceeding $100,000 over the last 30 days. Currently, the market is showing a sideways trend, but whales are actively engaging in buying and selling certain altcoins, indicating potential volatility.
Top Altcoins with Increased Interest
In Santiment's list of 'projects with the highest increase in whale interest,' altcoins focused on artificial intelligence and Layer-2 are particularly prominent. At the top is Render (RENDER), followed by SPX6900 and Sky. The top ten altcoins with the highest increase in whale activity over the last week are as follows:
1. Render – 426.44% 2. SPX6900 (SPX) – 363.04% 3. Sky (SKY) – 322.22% 4. BitDAO (BIT) – 300% 5. UNUS SED LEO (LEO) – 300% 6. Dai [Optimism network] (DAI) – 250% 7. USD Coin [on Optimism network] (USDC) – 242.31% 8. Optimism (OP) – 187.91% 9. Aave [on Polygon network] (AAVE) – 158.33% 10. Aave [on Ethereum network] (AAVE) – 106.1%.
Conclusion
Santiment's report highlights whale activity in the market, which contributes to potential volatility. Altcoins such as Render and SPX6900 are showing significant interest from major investors.
Therefore, the analysis results emphasize the importance of monitoring whale activity for assessing market trends and potential volatility.
