Cryptocurrency analysis platform Santiment has published remarkable data for investors looking for long-term investment opportunities in the market. of Santiment to the analysis Three major altcoins may have long-term upside potential as their holders reduce their holdings on exchanges. These three altcoins are Ethereum (ETH), Shiba Inu (SHIB), and the AI-focused crypto project Fetch.ai (FET).
In the case of Fetch.ai, the project’s top 10 wallets were found to have reduced their FET holdings on exchanges by an impressive 26.1% in the last three months, according to data from Santiment. This is considered a strong signal that investors tend to hold on to their assets by withdrawing them from exchanges, according to the platform’s analysis.
During the same period, the top 10 owners of Ethereum recorded a decrease of 4.3%, while the top 10 owners of Shiba Inu attracted attention with a decrease of 2.7%.
According to Santiment, this downward trend reveals that the crypto assets in question have a strong investor base and that these investors believe in the projects’ chances of long-term success. The Fetch.ai example in particular may reflect the project’s community’s trust and commitment to long-term goals.
While Ethereum is trading at $2,306 at the time of this writing, the Shiba Inu is changing hands at $0.0000106. At the time of writing, Fetch.ai’s price is at $0.729, an increase of 259% from its price of $0.203 on October 23.
Earlier this week, Santiment said that Ethereum supply on exchanges had reached a new low since the official launch of the second-largest crypto asset by market cap.
“As Ethereum’s market cap hovers just above $2,170, the largest exchange wallets continue to move coins to smaller wallets or off exchanges entirely. A mass of 240,000 ETH was moved from these wallets within 24 hours, resulting in a 2.99% decrease in coins held.”
You can follow the current price movement here.