Leading blockchain analysis company Santiment evaluated the latest data on Ethereum whales. Accordingly, the largest crypto wallets seem to have taken over the 4 altcoin markets. We have compiled the details for you.
Whales have officially taken over the leading altcoin Ethereum
Leading altcoin Ethereum experienced a massive devaluation last week. Accordingly, ETH price recovered after breaking below the $1,000 level. As Cryptokoin.com reported, the cryptocurrency is currently trading around $1,068. However, the data released by the leading analysis firm Santiment revealed striking results. The biggest Ethereum whales have accumulated quite a bit of ETH in the crash. The data reveal that ETH is constantly losing value, while whales are constantly accumulating. The number of wallets holding 100 to 100,000 ETH continues to rise despite the crash in June. Santiment said:
“Ethereum whale addresses collectively added 1.1% of the altcoin supply to their bags, down 39%. Historical evidence suggests that this group of investors will have a say in future price movements.”
Santiment: “The number of users in this altcoin project has reached the peak of 2 years”
After Ethereum, Santiment mentioned Ripple (XRP), which is among the leading altcoin projects. The analysis firm revealed a significant exponential increase in the number of unique users entering XRP. Therefore, he added that XRP is in a good position in the current bear market. Santiment’s post on Twitter was as follows:
“XRP was outperforming most altcoins on Thursday’s day of crypto analysis. A few days ago, Ripple experienced an explosion in the number of unique users interacting through its network. Accordingly, the popular altcoin surpassed 200,000 addresses for the first time since February 2020. This data is quite remarkable.”
Dogecoin and SHIB are also on the rise in network activity
Blockchain analytics firm Santiment recently touched on two memecoins: Dogecoin and SHIB. There are also important good indicators in these two competing altcoin projects. As it is known, Dogecoin and SHIB are the two largest memecoins by market cap. According to Santiment’s data, both witnessed a huge increase in network activity. The surge in network activity has occurred in the last 10 days when prices have been quite low. Santiment said the following about leading memecoins on his official Twitter account:
“You have the freedom to think whatever you want about Dogecoin and Shiba Inu. But each one seems to reveal notable increases in network activity. Especially in the last 10 days, DOGE has increased by 32%. Similarly, its rival SHIB managed to see 35% returning network engagement.”
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