Whale Activity on Top Ethereum Altcoin Project Skyrockets 1,100% As Litecoin and Decentraland See Massive Jumps: Santiment
Crypto analytics firm Santiment reports that whale activity on three altcoins has surged since the start of 2023.
Starting with the liquidity protocol Aave (AAVE), Santiment says that the 42nd-largest crypto asset by market cap has seen the number of transactions valued at over $100,000 increase by more than 1,100% year-to-date.
Next up is Litecoin (LTC). According to the crypto analytics firm, the 16th-largest digital asset by market cap has recorded an over 75% increase in $100,000+ transactions since the start of the year.
On the other hand, Santiment says that the decentralized virtual world Decentraland (MANA) has seen an over 871% increase in the level of transactions worth above $100,000 in under three weeks.
“As market-wide pumps have flattened out, for now, several altcoins continue individual runs. AAVE (+1,100%), MANA (+871%), and LTC (+75%) are up big on $100,000+ transactions since New Year’s.”
Aave is trading at $84.63 at time of writing, up by 60% since the start of the year, while Litecoin is changing hands at $86.45, up by 24% since the year began. Decentraland’s market price is quoted at $0.69 at time of writing, up by 130% year-to-date.
Turning to Chainlink (LINK), a source of off-chain real-world information for smart contracts, Santiment says that the number of whales holding the 24th-largest crypto asset has risen by over 26% in the past eight months.
“Chainlink is floating a bit ahead of the altcoin pack today. There are 463 addresses that hold at least 100,000 LINK, and they have ascended +26% since May, 2022. It is encouraging when an asset sees whale accumulation during corrections.”
Chainlink is trading for $6.79 at time of writing, up by 22% year-to-date.
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney