Crypto analytics platform Santiment predicts that the uptrend will continue for an Ethereum-based altcoin, which is already rising in triple digits.
Santiment says Socios.com’s native token Chiliz (CHZ) will continue to rally as whale activity surrounding it hits a five-month high. announced.
“Chiliz has managed to break into the top 40 crypto assets with market cap and 150% price increase in the last four weeks. Whale transactions hit the highest net amount since March 29. Even if the whales profit, the CHZ rally can continue.”
As mentioned above, the number of CHZ transactions worth over $100,000 reached 105 on August 23, the highest level since March 29.
At the time of writing, Chiliz is ranked 41st among the top 100 crypto assets. Altcoin retreated a little after the rise.
Santiment, which also examines the leading crypto Bitcoin (BTC), claims that the bearish trend surrounding the crypto market has caused the flagship digital asset to be sold at a loss. According to the market analysis firm, twice as many Bitcoin transactions are made with losses this week compared to those with profits.
“Bitcoin is in this sideways drop as it briefly rallied above $25,000 on August 14. BTC transactions are mostly losing money as traders turn their attention to Ethereum and altcoins. That’s the lowest take-profit rate we’ve seen on record.”
Santiment later shed light on Ethereum (ETH) as well. According to its analytics platform, the second-largest crypto asset by market capitalization ranks top in terms of development activity over a 30-day period.
Santiment reports that Ethereum is ahead of its rivals Cardano (ADA) and Polkadot (DOT), which are ranked second and third, respectively, in terms of development activity on Github.
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Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.