Current data provided by Santiment shows that sideways movements in the cryptocurrency market may be resolved imminently. Firm analysts said that all investments, except for 6 altcoins, lost blood.
Ethereum-based altcoin projects are about to witness high volatility
According to the crypto analytics company, some Ethereum (ETH)-based altcoins will experience larger price swings after moving sideways for a while. Santiment says that Bancor (BNT) in particular has increased its supply on exchanges by 46% compared to three months ago. Meanwhile, Bancor’s price surpassed $0.4556 today for the first time in two weeks. Santiment says this indicates high volatility:
As an altcoin with one of the highest levels on exchanges in the top 200, massive volatility could erupt for BNT at any time.
BNT is currently trading at $0.4248. He soon lost $0.4556, which he bought back two weeks later.
While the altcoin market is moving, Bitcoin is relatively calm
Santiment claims that the drop in large transactions over the past few months has resulted in lower volatility for Bitcoin (BTC), which is currently trading at $19,373:
We see that the lack of whale presence has a lot to do with Bitcoin’s relatively “boring” price action over the past four months. BTC transactions of 100,000 or more and $1 million or more fell to levels last seen in 2020.
The analytics firm adds that with its falling prices, the overall market has lost its popularity. According to Santiment data, if you don’t own these 6 altcoins, you’re in the wrong place:
The streets have seen a lot of blood. If the majority of your portfolio isn’t made up of BNB, XLM, QNT, MKR, HT, or other rare positive altcoins in the last 30 days, you’re on the decline. As a result, interest in cryptocurrencies is still dwindling.
Huobi Token (HT) is on the rise after this news
As you follow on Kriptokoin.com, the HT price has been on the rise after a new announcement by Justin Sun. The Tron founder announced that the developers of Tron and BitTorrent will now work with Heco developers. As a result of this news, the price of Bittorent (BTTC), Huobi Token (HT) and Tron (TRX) has been on the rise. Each has gained double digits over the last 24 hours.
Meanwhile, the cryptocurrency market has found new buyers after the October 13 sell-off. Currently, most altcoins, including Bitcoin, have gained around 5% over the last 24 hours. The biggest gain was the Ethereum-based domain service, the Ethereum Name Service (ENS). The price of ENS token is up more than 15% over the last 24 hours.
47672
