The cryptocurrency market witnessed a relief rally on Ethereum ETF excitement. The leading altcoin increased in value by over 20% in a short time. Amidst these developments, whales are showing interest in some Ethereum-based tokens. Market intelligence platform Santiment reveals that crypto whale transactions are rising for two Ethereum-based altcoins.
Santiment: Whales put these 2 altcoins on their radar!
cryptokoin.comAs you follow from , Ethereum ETH wind blew in the crypto market. The leading altcoin Ethereum went up to almost 4 thousand dollars with a strong run. Amid these developments, deep-pocketed investor activity has increased, according to market intelligence platform Santiment. Santiment says whales are showing interest in Optimism (OP) and Chiliz (CHZ). In this context, the analytics platform shared the following assessment:
As crypto undergoes a major rally (May 20), watch for rising whale activity among many altcoins such as Optimism and Chiliz. Sudden high on-chain activity among the largest traders will typically herald major swings and OP and CHZ reversals.
Meanwhile, Optimism was trading at $2.64 at the time of writing, down more than 10% in the last 24 hours. Chiliz, on the other hand, was changing hands at $0.12 at the time of writing, losing 4.3% in the last 24 hours.
Altcoin with the most buzz on social media platforms: Ethereum
Santiment also noticed that Ethereum was the crypto project attracting the most buzz on social media platforms as the odds grew for Ethereum exchange-traded fund (ETF) approval by the US Securities and Exchange Commission. In this regard, the analytics platform made the following statement:
Ethereum is the top trending asset in crypto, according to X, Discord, Telegram, 4chan, and Bitcoin Talk. All eyes are on the SEC’s decision to approve the first spot ETH ETF. Additionally, Tether conversations about fear, uncertainty, and doubt can lead to huge increases in the market.
Market intelligence firm IntoTheBlock revealed that the vast majority of ETH holers made money with the recent rally. IntoTheBlock, “Ether’s explosive move above $3,600 put 90% of ETH holders in profit.” said. Meanwhile, Ethereum was trading at $3,683 at the time of writing, down 2.6% in the last 24 hours. However, the leading altcoin saw an increase of over 25% on its weekly chart. However, as the spot ETF excitement subsided, the leading altcoin gave back some of its gains.
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