Cryptocurrency analytics company Santiment has listed altcoins that have seen a sharp increase in whale activity over the last week.
Whale Activity Analysis
According to Santiment analysts, there was a significant increase in whale activity among several altcoins last week. The list was based on an increase in transaction volumes of at least $100,000.
Increase in Key Altcoin Activity
Topping the list was PancakeSwap (CAKE) with a 439.71% increase. Other notable altcoins include USD Coin (USDC) at 407.55%, HEX (HEX) at 275%, Mantle (MNT) at 144.44%, and others.
Significance of Whale Activity for the Market
The sharp increase in whale activity over the past week may indicate potential changes in market dynamics. Analysts believe that monitoring such activity can help investors better understand market sentiment.
The investigation into whale activity reveals various trends in cryptocurrencies, which could be crucial for evaluating their future market movements.
