According to renowned crypto analytics firm Santiment, smart contract-focused altcoin projects Solana (SOL), Cardano (ADA) and Polkadot (DOT) are demonstrating strength on a specific development metric. As Kriptokoin.com, we provide the details…
Santiment draws attention to 5 altcoin projects
According to Santiment, three Ethereum (ETH) competitors have the highest GitHub delivery rates among major crypto projects. According to the firm, development activity remains important to the growth and viability of major cryptocurrencies. According to statistics, Solana is the most popular project, followed by Cardano and Polkadot. Ethereum is in fourth place, while the decentralized oracle network Chainlink (LINK) is in fifth place.
Whales keep accumulating Ethereum
to Santiment According to the report, despite the recent price drops, the biggest Ethereum whales have been collecting ETH since October. Wallets with over 100,000 ETH have added another 1.54 million ETH since October 1, for a total of $4.8 billion. This class of addresses currently holds a total of $164.4 billion in ETH. According to Santiment, the market cap-to-value (MVRV) indicator shows that Bitcoin (BTC) still has “potential” on the upside. The firm posted these metrics in a February 15 tweet:
Whale-grade Ethereum addresses held their bags during the December and January price drop, and their patience was rewarded during the rebound to $3,120. Since October 1, in fact, 100,000+ ETH addresses have collectively added 1.54 million ETH, which is $4.8 billion in earnings.
Bitcoin’s rise to $44.2k is an optimistic picture for investors presented. Average 30-day returns climbed over 9% on Wednesday. There is usually this upside opportunity until the 30-day MVRV is +15% or higher. According to Santiment, this increases the likelihood of an “enthusiasm”:
Bitcoin’s return above $44.2k is a welcome sight for investors. Average 30-day returns climbed above +9% again on Wednesday. In general, there may be room to run on these ups until you reach +15% or more of the 30-day MVRV. This is when enthusiasm tends to occur.
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