The flow of money shifts, whales are actively collecting 3 altcoins and selling 2 others
According to cryptanalysis firm Santiment, crypto whales are actively collecting three altcoins and selling two more.
Santiment says whale tracking is an effective way to determine which cryptocurrencies will rise or fall in the future.
The analytics firm notes that the number of whale addresses has risen sharply in the past week, with 1-10 million scales (SKL).
SKL is the native token of Skale, a blockchain network that enables developers to create and deploy Ethereum-compatible decentralized chains. SKL is trading at $ 0.25 at press time and is up more than 10% in the past 24 hours.
According to Santiment, the number of whale addresses with 100-10,000 Makers (MKR) has also skyrocketed since the second half of November.
Maker is a smart contract platform based on the Ethereum blockchain network. It is used to keep the price of stablecoin DAI (1 DAI = 1 USD) stable using the Collateralized Debt Positions (CDP) mechanism. MKR is trading at $ 2,683.35 at press time and is up about 3% on the day.
Santiment noted that the number of whale addresses holding between 1 and 10 million Ocean Protocol (OCEAN) has also increased since the latter half of last month.
OCEAN is the native token of Ocean Protocol, a blockchain ecosystem that connects data providers and consumers. Ranked 1954 by market cap, the cryptocurrency trades at $ 1.05 at press time and is up nearly 6% in the past 24 hours.
On the flip side, Santiment noted that the number of whale addresses has decreased by 1-10 million ren (REN) in the past week.
Ren is a platform that supports transactions between different blockchain platforms. It is designed to make it easy for users to embrace and invest in DeFi. REN is trading at $ 0.74 at press time and is down more than 8% on the day.
According to the analysis company, the number of whale addresses has also decreased by 1-10 million GRT in the last two weeks.
GRT is the native token of The Graph, a protocol that enables indexing and querying of data from the blockchain. The 46th cryptocurrency by market capitalization is trading at $ 0.72 at press time and is up around 2% on the day.
Santiment also noted that the number of addresses holding between 100-10,000 Basic Attention Tokens (BAT) has also decreased slightly. While the analyst firm calls these addresses “whales,” it appears to be a mistake as BAT is only trading at $ 1.14 at press time.
BAT is a utility token based on Ethereum. It powers the ad-blocking web browser Brave, which focuses on protecting users’ data by removing ads and ad trackers. The 73rd cryptocurrency by market capitalization is currently up 5.4% in the last 24 hours.
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