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.
Cardano (ADA) could gain an upper hand over Solana (SOL) under certain conditions, according to analyst AM_Panic.
Bitcoin and other cryptocurrencies are facing significant downturns. Despite Donald Trump’s plans to build a Bitcoin reserve, Bitcoin (BTC) has struggled to make gains, remaining around the $80,000 mark.
The US Securities and Exchange Commission (SEC) has extended its timeline to decide on several cryptocurrency exchange-traded funds (ETFs), including those tied to XRP, Solana, Litecoin, and Dogecoin.
Financial giant Franklin Templeton, managing a staggering $1.53 trillion in assets, has officially entered the race to launch an XRP exchange-traded fund (ETF).