Cryptocurrency analytics firm Santiment has highlighted altcoins that saw the largest increase in whale activity over the past week.
Introduction to Santiment's Observations
Santiment analysts recommend paying extra attention to altcoins that show unusual whale activity. These changes might indicate key trends in the crypto market that investors should consider.
Top 10 Altcoins by Whale Activity
According to Santiment data, these altcoins have seen the most significant increase in transfers over $100,000 by whales in the last week: 1. Fasttoken (FTN) - 600% 2. OCD (OCD) - 600% 3. Dai (DAI, on Optimism network) - 462% 4. Wrapped Ethereum (WETH on Optimism network) - 412% 5. PancakeSwap (CAKE) - 203% 6. Dai (DAI on Avalanche network) - 100% 7. FTX Token (FTT) - 100% 8. USD Coin (USDC, on BNB network) - 74% 9. Nexo (NEXO) - 60% 10. AIOZ Network (AIOZ) - 50%
The Other Side of Increased Activity
Interestingly, despite the recent spike in activity, some of these altcoins are seeing declines over a longer period. Fasttoken, for instance, shows a 13% decline in whale activity over the last month. Similar trends are observed for DAI and FTT.
Analyzing whale activity can be a significant indicator for predicting future trends in the crypto market. It's crucial to consider both short-term and long-term patterns for accurate strategy development.
