Cryptocurrency analysis platform Santiment has released its latest views, naming three crypto assets it believes are poised for long-term bullish success. Ethereum (ETH), Shiba Inu (SHIB), and AI-focused crypto project Fetch.ai (FET) are attracting investors’ attention as Santiment observes a significant reduction in the supply held on exchanges. Here are the details…
Ethereum’s flexibility and supply dynamics attract attention
Santiment’s data reveals compelling trend for Ethereum, the second-largest crypto by value. The top 10 holders strategically reduced their ETH holdings on exchanges by 4.3% in 90 days. This move is considered a bullish signal by Santiment. In particular, the market value of Ethereum hovers around $2,306. Additionally, the altcoin is hitting a new low in supply on exchanges.
Ethereum’s persistent presence in the market and the strategic movement of coins from major exchange wallets to smaller wallets or off-exchange altogether indicate a positive outlook. Santiment states that 240,000 ETH were transferred in a 24-hour period. He also emphasizes that this means a 2.99% decrease in coins held in the largest wallets. Now, let’s move on to SHIB analysis.
Supply change for SHIB attracted attention
SHIB, a meme-inspired cryptocurrency that has caught the attention of the crypto community, is also part of Santiment’s bullish outlook. SHIB’s top 10 holders reduced their holdings on exchanges by 2.7% in the last 90 days. Thus, it contributed to the overall positive atmosphere surrounding the token. Santiment’s analysis shows that the largest wallet holders of Shiba Inu (SHIB) are strategically managing their assets with a noticeable reduction in supply on exchanges. This subtle shift in supply dynamics adds an interesting dimension to the token’s market narrative, as Shiba Inu is currently trading at $0.0000106.
Fetch.ai is making supply adjustments
Fetch.ai, an artificial intelligence-focused crypto project, attracted attention after SHIB. Santiment’s analysis stands out with a significant 26.1% decrease in supply held on exchanges by the top 10 wallets over the last three months. According to Santiment, the significant supply adjustment for Fetch.ai is critical. Because it indicates a strong long-term bullish sentiment. The top 10 wallet holders’ strategic move away from exchanges reflects confidence in Fetch.ai’s potential. Fetch.ai, currently priced at $0.729, has soared. In particular, it experienced a significant increase of 259% from its price of $0.203 on October 23.
While Santiment continues to provide valuable insight into the cryptocurrency market, Ethereum, SHIB and Fetch. The trends identified in Ai offer investors a nuanced perspective on potential long-term growth. It is noteworthy that supply dynamics play an important role in Santiment’s bullish signals. However, these crypto assets may be worth watching closely as the crypto world evolves. But time will tell what will happen in the long term. For this reason, it is recommended that every investor make his own investment.
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