Santiment Announces 3 Altcoins: Whales Are Chasing Them!

In the ever-evolving world of cryptocurrencies, large altcoin transactions often serve as indicators of potential outliers and significant developments. Recently, Santiment, a leading cryptocurrency analytics platform, identified three key altcoin movements that shed light on activity within their networks. These trades, which included Lido Dao (LDO), Illuvium (ILV), and Holo (HOT), provided valuable insight into market dynamics and potential future trends.

The first altcoin in the focus of whales Lido Dao (LDO): $ 36.4 million transfer

Lido Dao has experienced a number of major moves in its network throughout 2023. It has caught the attention of cryptocurrency enthusiasts. In the recent transaction, an amount of $36.4 million was transferred from one individual wallet to another. Surprisingly, this large transfer did not lead to a significant increase in transaction volume. It should be noted, however, that the supply of LDOs on exchanges remains strong, accounting for slightly less than 6 percent of the total supply.

Illuvium (ILV): $14 million transfer

In second place is Illuvium, which has been in a rapid decline since its peak above $106 in early February. ILV is currently trading below $47. Concerns have been expressed about the increased supply on exchanges, which has risen steadily since the price drop and is now at 14.5 percent. The last $14.0 million transfer between non-exchange addresses also drew attention at this point. It triggered a significant increase in on-chain transaction volume, reaching its highest level in nearly 14 months. This development could potentially be seen as a bullish signal, especially given that the transaction took place during a possible price bottom.

Holo (HOT): $12.7 million transfer

Known for its volatile price fluctuations over the past six months, Holo has seen a significant reduction in supply on exchanges. The $12.7 million transfer between non-exchange addresses is not unprecedented for the HOT network. However, whale movements of similar size occurred once or twice a month. Interestingly, this particular transaction did not affect supply on exchanges. The consistency of such transfers indicates continued market activity. It highlights the potential importance of Holo as a must-watch altcoin.

cryptocoin.com As we have reported, crypto markets continue to evolve. At this point, whale movements often provide valuable information about potential trends in altcoin networks. Post-processes, which include Lido Dao, Illuvium, and Holo, highlighted by Santiment, are of importance. This highlights the ongoing developments in the respective networks.

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