Crypto analytics firm Santiment is studying the movements of Bitcoin and XRP whales and predicting that five altcoins are about to rally.
The company’s data shows that 10,000 BTC or more bitcoin whales are still rummaging the flagship cryptocurrency amid a profound bitcoin correction.
“The oversized Bitcoin whale addresses (with more than 10,000 BTC) are getting richer and richer as prices rise, especially after the all-time high two weeks ago.
A total of around 90,000 BTC ($ 4.92 billion) have been added to these addresses since April 5. “
In the past two weeks, BTC has fallen nearly 15% and tested the USD 47,000 support level.
On-chain analyst Ali Martinez highlights data from Santiment, which shows that XRP whales are also actively buying more as the token is trading at $ 1.40.
“XRP whales have gone on a shopping spree. Santiment announces that since April 23, 19 new addresses with more than 1,000,000 XRPs have joined the network.
Further upward pressure could push this cryptocurrency to new highs for the year. “
Santiment also highlights five altcoins that could be under the radar and ready to accumulate based on on-chain metrics that show increased trendlines for total daily address activity and declining trendlines for daily active deposits.
According to CoinGecko, Ethereum, which is hovering around its new all-time high of $ 2,797 according to CoinGecko, is still showing strong bullish signals by looking at the highlighted metric.
Lately, a lot of new Ethereum addresses have been created, adds the analytics firm and is helping to take the asset to new heights.
The lowest market capitalization item that Santiment highlights for its daily active deposits and address activity trendlines is the Brave Browser search engine tool’s Basic Attention Token (BAT).
The other three are: Decentralized Finance (DeFi) Asset Maker (MKR), Gaming Token Enjin (ENJ) and Virtual Reality Project Decentraland (MANA).
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Featured image: Shutterstock / Tithi Luadthong