Bitcoin’s recent volatility has impacted the entire cryptocurrency market, including altcoins, causing some investors to stay on the sidelines while larger players, known as “whales,” continue making significant moves in the altcoin space.
According to a report from cryptocurrency analysis firm Santiment, several altcoins have seen a noticeable increase in whale activity recently.
Among those drawing attention are Fast Token (FTN), Ethereum Name Service (ENS), Trust Wallet (TWT), and Layer Zero (ZRO), which is active on both Arbitrum and Ethereum.
Other altcoins experiencing heightened whale transactions include Memecoin (MEME), Amp Coin (AMP), Axelar (AXL), Curve Finance (CRV), and MakerDAO (DAI).
Santiment cautioned that high whale activity often correlates with increased price volatility, advising investors to be cautious as these altcoins face fluctuating market conditions.
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While Bitcoin has already set fresh all-time highs, Ethereum continues to lag behind its peak, leaving many investors wondering when the top altcoin will catch up.
Rumors are heating up around Solana-based memecoin platform Pump.fun, which is said to be prepping a $1 billion token sale at a $4 billion valuation—though the team has yet to confirm any details publicly.