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.
XRP (XRP) has gone down by 4.3% in the past 24 hours and currently sits at $2.45 as the market has taken a breather after days of rallying. Trading volumes have retreated a bit but they are still above the 14-day average as participation rates have increased. Open interest in XRP futures has been trending […]
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