Crypto analytics firm Santiment reports encouraging signals in altcoins following Bitcoin's rise, noting significant whale activities.
Increase in Whale Transactions
According to Santiment, significant whale transactions have been observed across various altcoin projects, including the stablecoin Dai (DAI) issued by Maker. This increase could indicate that investors are anticipating substantial market movements.
Whale Transactions in Top Altcoins
This week, Santiment shared a list of the top 10 altcoins with the largest increase in whale transactions, all having a market cap of at least $500 million. This list showcases significant movements within the altcoin market.
Network Activity and XRP Surge
Santiment reported a substantial rise in network activity alongside an increase in XRP's value. For the first time since January 2018, XRP surpassed a market value of $3.39 and recorded 2,365 transactions above $100,000 within an eight-hour period.
These developments may present potential opportunities in the altcoin market for investors. However, Santiment warns that high whale activity may lead to market fluctuations, requiring caution.
