New data from crypto-analysis platform Santiment reveals that whale trading is soaring in Litecoin (LTC), polygon (matic) and two Ethereums (ethereum) based altcoins.
According to market research firm Bitcoin (Bitcoin) alternative Litecoin is experiencing Revival This is what has happened in the past two surges in whale activity centered around LTC.
“Litecoin’s large-scale whale trades have exploded, marking a resurgence of trades above $1 million. After the last two similar-sized whale spikes, prices have peaked. +37% and +33% increase.”
As of this writing, Litecoin is trading at $87.29. A 30% increase in price would make Litecoin worth around $114.
Santimento too To tell Layer 1 protocol Aave’s network (AAVE), decentralized exchange DyDx (DYDX) and scaling solution Polygon have seen a significant increase in whale trade in the past month, adding that prices have also increased significantly.
“AAVE (+56% 30-day price), MATIC (+35%), and DYDX (+94%) have all seen dramatic increases in whale trading volume on their respective networks over the past month. We should keep an eye on the growing interest in large addresses for the assets of
At the time of writing, DyDx is trading at $2.51 while Aave and Polygon are trading at $87.33 and $1.17 respectively.
Crypto analysis platform Note Altcoins as a whole posted a strong rally earlier this year and the upward trend looks set to continue.
“Altcoins are another impressive move, with some notable assets up 20% or more. After five days of cryptocurrencies falling, prices are showing little resistance. Social spikes and FOMO (fear of missing out) can cause highs, otherwise traders will scoff at this run (allowing the rally to continue).”
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