Whale Interest in Bitcoin or Altcoins? Santiment Warns About This Altcoin!

Up to $27,500 yesterday bitcoin It could not continue its rise and fell sharply to $ 26,600 this morning.

In this context of BTC evaluating price movements centimentHe stated that Bitcoin has been facing selling pressure for a long time and is consolidating within a narrow range.

Santiment said that because of this deadlock that BTC is experiencing, sharks and whales altcoin And to stablecoins He said he was headed.

“Sharks and whales keep their BTC holdings stable due to Bitcoin’s recent performance. But we are seeing sharks and whales accumulating stablecoins and increasing their future purchasing power.”

Ranked among the most popular stablecoins by whales and sharks USD Coin, Binance USD and DAI Stating that stablecoin has been accumulated, Santiment stated that 37% of the $100,000 and $10 million whale addresses USDC6% BUSD and 39% DAI He said he was holding.

🤑 As sharks & whales stay flat on their #Bitcoin holdings, we are seeing that #stablecoins have been accumulated by these large holders, increasing their future implied buying power:

💰 $USDC $100k-$10m 🐳: 37% held
💰 $BUSD $100k-$10m: 🐳6% held
💰 $DAI $100k-$10m 🐳: 39% held pic.twitter.com/ETAVERnHRn

— Santiment (@santimentfeed) May 23, 2023

Santiment says whales and sharks out of stablecoins during May Porspoer (PRO), Banqi (QI) and Maker (MKR) He also stated that he has accumulated lesser-known altcoins such as

Finally, Santiment has had a massive rally recently on whales and sharks’ radar. Render Token (RNDR) He said he was in.

In the last 12 days, RNDR Noting that its price increased by 63% due to increased trade and on-chain transaction volume, Santiment stated that this rally positions RNDR as the 45th largest asset by market capitalization.

However, stating that it is necessary to be careful against RNDR, Santiment said that RNDR has entered a profit-taking period with this solid rise.

At this point, Santiment pointed out that whale transactions rose to the third highest level in May, writing that investors should be cautious.

However, Santiment also stated that there is some data showing that the RNDR rally is not over, he wrote:

“Shark and whale RNDR address numbers continue to increase. The tan line, which represents wallets holding between 1 million and 10 million RNDR, is increasing especially rapidly. 90 such addresses are the most in the history of the entity.

If the whales were making a profit, this number of addresses would probably not continue to increase. This could be an indication that the RNDR rally is not over.

However, it is better to be cautious.”

RNDR, which rose to the level of $ 2.80 yesterday, BTCIt fell to $2.49 with the decrease in . at the time of writing RNDR It is at the level of $ 2,508.

💽 The +63% price rally by @RenderToken over the past 12 days has moved it up to the #45 spot on the top market caps in #crypto. Our latest insight takes a look at its latest big day, shark & ​​whale behavior, and how the crowd will likely dictate the top. https://t.co/mv5XYBFnP2 pic.twitter.com/z2Z4OBIsEB

— Santiment (@santimentfeed) May 23, 2023

*Not investment advice