1. Home
  2. ada
  3. Whale Activity in Dogecoin and Two Ethereum-Based Altcoins Is Heating Up, According to Analytics Firm Santiment
Whale Activity in Dogecoin and Two Ethereum-Based Altcoins Is Heating Up, According to Analytics Firm Santiment

Whale Activity in Dogecoin and Two Ethereum-Based Altcoins Is Heating Up, According to Analytics Firm Santiment

0

Source: Daily Hodle

Analytics firm Santiment is tracking three altcoins being swallowed up by whales as the crypto markets sizzle during an early summer rally.

According to a Santiment post, crypto investors who spend over $100,000 per transaction are loading up on popular meme token Dogecoin (DOGE), with 106 such transactions taking place on July 18th alone.

The firm also highlights layer-2 scaling solution Polygon (MATIC) and decentralized crypto exchange Uniswap (UNI) as being high on the whales’ shopping list.

“With many altcoins enjoying a solid rebound to their market caps in July, we can see the amount of $100,000+ valued whale transactions are beginning to rise.

DOGE, MATIC, and UNI are noticeably seeing rises in these large transactions on their networks.”

Source: Santiment/Twitter

In the month of July, Dogecoin is up 9.3% from $0.064 to $0.070, Polygon has risen 72.9% from $0.48 to $0.83, and Uniswap surged 41.8% from $4.87 to a valuation of $6.91 at time of writing.

Regarding the largest crypto asset by market capitalization Bitcoin (BTC), Santiment earlier this week noted that whale purchase activity above the $1 million mark had also gone up.

The analytics firm says the market jitters are giving way to optimism as Bitcoin investors seem eager to flock in and avoid the fear of missing out (FOMO).

“Traders are changing their tune and are smelling a long-term breakout after a dominant Bitcoin Tuesday.

With the #1 market cap asset in crypto surging, the ratio between BTC longs and shorts is at its highest point since early May.

Watch for FOMO.”

Source: Santiment/Twitter

Bitcoin has rallied nicely this month, starting at $19,431 and rising by 19.6% to $23,252 at time of writing.

Santiment concludes its survey of the crypto landscape by providing an update on which projects have seen the most activity on the developer site GitHub over the past 30 days.

Back on top is scalable smart contract platform Cardano (ADA), followed by cross-chain interoperability protocol Polkadot (DOT) and its canary test network Kusama (KSM).

Rounding out the top five in development activity are leading smart contract Ethereum (ETH) and the Internet-of-Things connector and distributed ledger IOTA (MIOTA).

“ADA, DOT, KSM, ETH, and MIOTA lead in development activity here in July.

Measuring GitHub activity goes beyond just quantity of submissions. We measure via code pushes, issue interactions, and more.”

Source: Santiment/Twitter

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines

&nbsp

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.

Featured Image: Shutterstock/nutriaaa/NikWB

The post Whale Activity in Dogecoin and Two Ethereum-Based Altcoins Is Heating Up, According to Analytics Firm Santiment appeared first on The Daily Hodl.

Go to Source
Author: Daily Hodl Staff