Analysis

According to Santiment, MANA, XTZ and 3 other altcoins are leading the rally

Crypto analytics platform Santiment says Decentraland (MANA), Tezos (XTZ), and several other altcoins are leading the rally as the market shows strength.

Looking at the market, Santiment pointed out that along with Decentraland and Tezos, LEO Token (LEO), Quant Interoperable Blockchain (QNT) and payment-oriented blockchain YOUCash (YOUC) are Bitfinex’s top-performing utility tokens.

“The past week has been a roller coaster ride for crypto. However, after BTC surged over the weekend, many altcoins benefited. MANA, LEO, XTZ, QNT and YOUC lead among the top cryptocurrencies.”

The source: Mood/Twitter

At the time of writing, Decentraland has rallied more than 40% from a seven-day low of $2.44 to a high of $3.47, while Tezos is up 65% over the same period. LEO, QNT, and YOUC were all up 47%, 56%, and 70%, respectively.

While all altcoins have rallied, Ethereum (ETH), the largest of them, is about to surpass the 50-day MA ($3,200). Santiment data shows that the number of active Ethereum addresses has risen to levels not seen since early December last year.

“On a busier than usual Saturday, Ethereum miners were delighted to see the king of altcoins reclaim $3,000 for the first time in over two weeks. The number of active ETH addresses has also reached a two-month high.”

The source: Mood/Twitter

Santiment also shows that tether whales or companies with more than 1 million USDT are in a steady uptrend.

“$1 million worth of Tether addresses is slowly increasing. For the first time, it accounted for more than 80% of the supply of USDT in three weeks. All in all, stablecoin whale addresses that increase their purchasing power bode well for the long-term future of cryptocurrencies.”

The source: Mood/Twitter

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.