These 10 Altcoins Are Seeing Massive Whale Activity: What’s Next?
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- Santiment mentioned ten cryptocurrencies with skyrocketing whale activities.
- The firm said that rising whale activities will result in a movement opposite to the current trend.
- APE, SUSHI, HOT, CHEX, and FRAX are some of the coins Santiment mentioned.
Several altcoins have seen a dramatic increase in whale activity this past week, according to data from blockchain analytics platform Santiment. These crypto projects may be poised for short-term price rallies, and investors should keep a close eye on them.
In an X post, Santiment identified ten digital asset projects with the biggest jump in whale activity: ApeCoin (APE), SushiSwap (SUSHI), Treasure DAO (MAGIC), HOLO (HOT), API3DAO (API3), Frax Finance (FRAX), Aragon Project (ANT), AIOZ Network (AIOZ), MetisL2 (METIS), and Chintai Network (CHEX).
Santiment explained that any cryptocurrency with five times its normal whale transactions in a week “has a much higher chance of major price swings that go against their recent trends.” In other words, if an altcoin has been underperforming, it might become bullish. However, “if the price is already outperforming the market and whale transactions spike, it likely…
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