Crypto Analytics Service Santiment Claims that Important Whale activity is Detected on Major Blockchains

Santiment is a popular crypto analytics service that broadcasts important market trends and upgrades on social media platforms. In a recent tweet, the enterprise reported that a significant amount of whale activity was detected on the Ethereum network. Ethereum was able to register a new ATH of $3,542 earlier this week. However, the silver cryptocurrency is currently trading at $3,428 after a mild market-wide correction.

Santiment has included Ethereum alongside Safemoon (SAFE), Dent blockchain (DENT), Coinvest (COIN), and Dogecoin (DOGE) in its list of top trending assets at present. According to the data issued by Santiment, the daily trading volume for Ethereum is up by 112%. The analytics also highlights the massive amount of ETH shedding going on the crypto exchanges. It shows that investors are moving ETH to their private wallets after massive accumulation. 

Bitcoin Institutional Interest Keeps Surging Despite Several Drop Price Points in the Last Few Days

Santiment has not excluded Bitcoin from its market impression radar. The analytics firm claims that crypto whales are still circulating around the flagship cryptocurrency despite the meandering price point of the beacon cryptocurrency. As per the data reading published by Santiment, it can be deduced that Bitcoin retains a regular amount of whale traffic. The service has also added that the institutional investors remain unaffected by the latest price drops. 

The users of the Sanbase Pro service can witness the encouraging trends on Bitcoin supply distribution charts. Bitcoin whale addresses have been elevated from 1000+ to 2,234. With the emergence of 7 new addresses, the blockchain shows the largest daily active address in 3 weeks. Meanwhile, it is being predicted that if 1.27 million unique addresses registered on the BTC blockchain keep increasing, it could eventually reinstate the gold crypto asset position.

Another crypto analytics service claims that the altcoin season has entered into the finishing stages of phase two and initial stages of phase three. The analyst that tweets with the pseudonym @SecretsofCrypto on Twitter had recently claimed that phase 1 of the altcoin season came to an end when Ethereum started to outperform Bitcoin back and forth.

Altcoin season is a measure of market functions that are triggered by Bitcoin mining halving every four years. A flood of new participants causes the resulting price surges and loss of faith in the crypto markets at the same time. Veteran economist Peter Brandt also criticized Bitcoiners about the laser eyes profile pictures based on the same principles. According to @SecretsofCrypto, phase 2 signifies ETH is consistently outperforming Bitcoin, and phase 3 denotes a large market cap going parabolic. 

Leave a Reply

Your email address will not be published. Required fields are marked *


Currently, there are Rare Chances of Bullish Run for both Bitcoin and Ethereum

There have been surprisingly enough data put forth by crypto enthusiasts, predictions, and wishful odds, all pointing towards a possible bullish run for both Bitcoin and Ethereum. While there was no mention of when it might happen for the crypto market, the urgency of these odds playing out could be felt from the statement, but […]

MicroStrategy now has more than 105k Bitcoins after Purchasing another 13005 Bitcoins

Despite the fact that cryptocurrency and the idea of acquiring it, especially Bitcoin, are being shunned over in various capital-driven regions such as China, the adoption rate for the cryptocurrency has also been pretty great. El Salvador has become the first-ever country to introduce Bitcoin into its currency and financial streams as there also have […]

Crypto Investors can Take Part in the Upcoming Auction for Rare Diamond by Sotheby

Sotheby is the largest fine arts and decorative collectibles brokers in the world. The company has about 80 offices in 40 different countries. The biggest Sotheby offices are present in the United Kingdom as it was founded by Britain natives. However, at present, the main headquarters of the auction house is situated in the United […]

Another Small Country of America has Made Plans to Make Bitcoin a Legal Tender

El Salvador’s big crypto revolution has to turn into an epidemic. Many other countries in the region are following suit left and right. Bitcoin has become a more popular mode of trading in comparison to fiat. In the same vein, Paraguayan- a South American nation, has come forward to ensure that they are in the […]