Whale activity in the cryptocurrency market, especially trading volumes of $100,000 and above, has been closely monitored. Recent data reveals significant increases in the trading volumes of certain altcoin projects. Based on Santiment data, an analyst revealed that cryptos such as DEXE coin, AIOZ, LEO are on the agenda among whales. Here are the details
Santiment: DEXE coin and beware of these 9!
The movements of large investors, called whales in the cryptocurrency market, are closely monitored. According to the latest Santiment data, significant increases in trading volumes of 100 thousand dollars and above were observed in certain altcoin projects. These increases can be interpreted as a sign of increased interest in these altcoins. Here are the 10 altcoins with the highest increase in whale activity this week compared to the previous week:
- Dexe (DEXE): Tops the list with a 1,000% increase.
AIOZ (AIOZ): In second place with a 706% increase.
UNUS SED LEO (LEO): up 400%.
Mantle (MNT): recorded an increase of 389%.
Safe (SAFE): 260% increase.
Superverse (SUPER): Up 224% and took its place on the list.
Gnosis (GNO): increased by 200%.
Decentraland (MANA): Increased by 186%.
SPX6900 (SPX): up 149%.
Maker (MKR): rounds out the list with a 120% increase.
What does this data mean?
In the cryptocurrency market, the term “whale” refers to individuals or institutions that own large amounts of cryptocurrency. These large investors can have a significant impact on prices by buying or selling in the market. This data provides important clues about the potential movement of these altcoins in the market. Whale activity often takes the form of transfers or trades of large amounts of cryptocurrency. For example, when a whale buys a large amount of Bitcoin from the market, this can lead to the expectation that demand for Bitcoin is increasing and therefore its price will rise.
Similarly, a large sale could signal that supply is increasing and the price will fall. Such large transactions can cause market volatility and sudden price changes. These movements of whales are closely watched by other traders and can be interpreted as clues about market trends. Whales can influence the market with large buy or sell orders and cause short-term price manipulation. For example, a whale might buy a particular altcoin in bulk, drive its price higher, and then sell at the higher price to make a profit. Whale buying, in particular, attracts attention for this reason. Whale movements can also have a psychological effect on other investors.
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