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Analysis Firm Santiment Analyzed Two Altcoins: “Unusually High Whale Activity Observed”

source-logo  en.bitcoinsistemi.com 25 September 2023 22:11, UTC

Cryptocurrency analysis company Santiment recently claimed that two altcoins showed large amounts of whale activity.

Santiment analysts found that the whales of Linear Finance (LINA) and Decentraland (MANA) altcoins were unusually active, based on data based on their proprietary charts.

According to the data, the whale activity level on the LINA and MANA networks suddenly peaked and climbed to the highest level in the last three months. Analysts also reminded that these two tokens will exhibit modest performances in 2023.

At a time when blockchain-based games were very popular, the Decentraland token became extremely popular and the number of users exploded. However, after the then bull market faded, the MANA price also declined significantly and is trading at $0.29, well below its all-time high of $5.90.

Santiment analysts stated that they based on blockchain transactions worth over $100,000 when calculating the whale activities of the two tokens.

*This is not investment advice.