This Altcoin Exploding in Whale Activity Could Take Off: Santiment

Crypto analytics platform Santiment shared remarkable data on crypto whales. The data in question reveals that whale transactions have increased for Litecoin (LTC), Polygon (MATIC), and two Ethereum (ETH)-based altcoins.

crypto analytics firm to Santiment According to reports, popular altcoin Litecoin is experiencing a resurgence in terms of whale activity. Moreover, this revival could result in another price explosion of more than 30%.

“Litecoin’s large whale transactions exploded with activity, which saw a resurgence of transactions valued at $1 million or more. At the end of the last two similar sized whale increases, prices are up +37% and +33% from their peaks.”

At press time, Litecoin is trading at $87.29. A 30% price increase would bring the altcoin price to around $114.

Santiment also adds that networks of layer-1 protocol Aave (AAVE), decentralized exchange DyDx (DYDX), and scaling solution Polygon have seen a huge increase in whale transactions last month.

“AAVE (+56% in 30 days), MATIC (+35%) and DYDX (+94%) saw dramatic increases in the amount of whale transactions on their nets last month. Despite these assets, the increasing interest in addresses should be followed closely.”

Finally, the crypto analytics platform states that altcoins have signed a strong rally to start the year and the rise may continue.

“Altcoins are on another impressive run, with several notable assets up 20% or more. After a five-day crypto decline, prices faced little resistance. Social media spikes and FOMO (fear of missing out) can cause the top or traders downplay this rally (and let them continue).

You can follow the current price action here.

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