Santiment Names Three Altcoins: “Posing Good Signs for 2023!”

Cryptocurrency and altcoin As the market continues to experience significant volatility in 2022, it is important to monitor key indicators that could potentially signal a recovery or reversal.

One of these indicators is altcoins exiting exchanges and entering wallets; as this can often be a sign of long-term holding and confidence in a particular asset.

Santiment Announces The Three Most Taken Altcoins From Exchanges

According to a recent tweet from crypto analytics firm Santiment, a number of large market cap assets have seen significant coin outflows from exchanges in recent months. These include Quant, Decentraland and Enjin. The price of all three of these altcoins has recently dropped in line with the rest of the market.

Santiment explained his thoughts in his tweet:

“#Quant, #Decentraland and #Enjin are among the assets with the largest market capitalization, which saw significant coin exits from exchanges in 2022. While the prices of these coins have dropped drastically, as with the rest of cryptocurrencies, these are positive signs for a better 2023.”

🧐 #Quant, #Decentralandand #engine are among the largest market cap assets that saw significant amounts of coins leaving exchanges in 2022. Though their respective prices are down big, as is the rest of #cryptothese are good signs for a better 2023. https://t.co/OTza6HAZME pic.twitter.com/uw0470oNPA

— Santiment (@santimentfeed) December 30, 2022

While this may seem like a negative development at first glance, Santiment suggests it may actually be a good sign for the future. The holders of these assets demonstrate their confidence in their value and growth potential by removing their coins from exchanges and potentially holding them for the long term.

Of course, it is important to remember that this is just one of many factors that can affect the price of an asset and it is always important to do your own research and due diligence before making any investment decision.

However, it can be a useful indicator for tracking movements of coins outside the exchanges, and this type of activity by assets like Quant, Decentraland and Enjin could potentially be a positive sign for the year ahead.

*Not investment advice.