While Bitcoin and the altcoin market in general continue to trade with high volatility, some on-chain data suggests that cryptocurrency whales are quietly accumulating. At this point, the cry
While Bitcoin and the altcoin market in general continue to trade with high volatility, some on-chain data suggests that cryptocurrency whales are quietly accumulating.
At this point, the cryptocurrency analysis platform Santiment noted an explosion in whale activity in two altcoins.
According to Santiment, the altcoins Lighter (LIT) and Mantle (MNT) have seen their highest whale transactions exceeding $100,000 in the last six months. This indicates that large investors are becoming increasingly active despite the uncertain market environment.
According to the data, LIT is giving a strong signal with 86 trades above $100,000, while Mantle is showing a strong signal with 37 trades above $100,000.
Santiment notes that the increase in whale activity in LIT is “likely driven by renewed interest related to the persistent DEX narrative, token economics updates, buyback and burn mechanisms, staking yield, and recent partnership rumors.”
The increase in Mantle is said to stem from its expansion around tokenized shares, pre-IPO vaults, and deeper ecosystem usage.
Historically, increases in large investor activity have often preceded periods of high volatility or trend reversals, but large investor transactions, such as those by whales, do not alone guarantee a sustainable uptrend.
*This is not investment advice.
Continue Reading: Santiment Announces: “Whales Are Turning Towards Two Altcoins Not Even On Investors’ Minds!” – Six-Month Record Broken!
