Solana (SOL), Zcash (ZEC), Hedera (HBAR) and Four Under-the-Radar Altcoins Primed for Breakouts: Santiment
Blockchain analytics firm Santiment is expressing bullish sentiment on seven crypto assets which are currently being heavily betted against.
Santiment says that layer-1 blockchain Solana (SOL), decentralized public network Hedera (HBAR) and privacy coin ZCash (ZEC) are some of the crypto assets that are set to rally amid heavy shorting.
According to Santiment, other altcoins that are set to rise amid heavy bets against them are decentralized network DigiByte (DGB), Internet of Things blockchain Helium (HNT), decentralized finance (DeFi) platform Kava (KAVA) and smart contract-enabled blockchain Kusama (KSM).
“Traders are aggressively shorting altcoins today, and some assets could be primed for short liquidations. Based on extreme bets being placed on prices going down, DGB, HBAR, HNT, KAVA, KSM, SOL, & ZEC would be candidates for small breakouts if altcoins get any momentum.”
Turning to Bitcoin (BTC), Santiment says that small to medium holders of the flagship crypto asset are aggressively accumulating.
“Small to mid-sized Bitcoin addresses (0.1 to 100 BTC) have been on one of their most aggressive accumulation cycles in history, adding 9% to their holdings in just the past 6 months.”
According to the analytics firm, Bitcoin’s small-to-medium holders are more successful in predicting long-term price movements than short-term ones.
“Overall, it seems that these investors tend to be correct over long-term periods, but may not always accurately predict short-term price movements.”
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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The post Solana (SOL), Zcash (ZEC), Hedera (HBAR) and Four Under-the-Radar Altcoins Primed for Breakouts: Santiment appeared first on The Daily Hodl.
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Author: Daily Hodl Staff
