The cryptocurrency market has turned south today. The leading crypto Bitcoin sagged below the psychological support of $ 28 thousand. Most altcoins have also acted similarly to Bitcoin. In this environment, there are 6 altcoins in the focus of cryptocurrency whales.
Santiment: Despite the bear market ISLAND whale count is at its peak!
Blockchain analytics platform Santiment is tracking the movements of its deep-pocketed investors despite a stagnant crypto market. Santiment says whales have accumulated large amounts of Cardano (ADA). The analytics platform notes that the number of wallets holding 100,000 or more ADA tokens has risen to 25,294. It also states that this is an amount not seen since April 2022.
Meanwhile, Cardano reached its 2023 peak four months ago. With this, cryptocoin.com It’s down about 35% since then. Santiment notes that this increase in whale and shark wallets occurred despite negative trader sentiment towards Cardano. ADA is trading at $0.2735 at the time of writing, down 0.76% in the last 24 hours.
Source: SantimentThe trading volume of these altcoin projects draws attention
Santiment points out that other altcoin projects have also experienced unexpected trade volume increases. In this context, the analysis platform makes the following statement:
Pumps keep coming from where most people least expect it. As Bitcoin climbs above $30,000 to start the week, assets like Solana (SOL), Pepe (PEPE), Shiba Inu (SHIB) and HarryPotterObamaSonic10Inu (BITCOIN) are on the rise. It is possible to follow the volume of each altcoin project here.
Source: SantimentLeaderboard in development activities
Santiment also tracks GitHub development activities on Blockchain projects. The analytics platform highlights how the Blockchain oracle network Chainlink (LINK) has re-entered the top five. Accordingly, Santiment shares the following list:
Top 10 altcoin projects by development activity in the last 30 days: Polkadot (DOT), Kusama Network (KSM), Cardano (ADA), Hedera (HBAR), Chainlink (LINK), Internet Computer (ICP), Status (SNT), Aptos (APT), Vega Protocol (VEGA), and Cosmos (ATOM).
Source: SantimentNearly five trillion SHIB on the move
Popular Blockchain monitoring service Whale Alert, which tracks major crypto transactions, has detected a huge pile of SHIBs in motion. The transaction involved about five trillion altcoins. Also, the receiving wallet was completely empty before this transfer. Therefore, it is possible to say that a new Shiba Inu whale has entered the crypto market. Another option, given the enormous size of the transfer, is for a crypto exchange to reshuffle crypto holdings and move a large amount of SHIB to a new wallet that was recently created.
🚨 🚨 4,712,881,590,632 #SHIB (43,285,460 USD) transferred from unknown wallet to unknown wallethttps://t.co/Umqr7S1qsg
— Whale Alert (@whale_alert) August 17, 2023
Meanwhile, Santiment detected an impressive increase in the activity of SHIB whales last week. Whales have started buying large volumes of SHIB as the price pulls back after a slight rally. Thus, they tried to turn the discounted prices in their favor.
Whale, this altcoin leaves SHIB and BONE for
Meanwhile, another whale has also sold all of its SHIB and BONE tokens. However, the whale bought another popular meme coin, PEPE. According to analytics platform Lookonchain, the whale in question has abandoned all of its SHIBs and BONEs. Then bought a large 1.07 trillion PEPE bag worth $1.28 million
https://twitter.com/lookonchain/status/169207014953490277
