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Reading: Positive Signals for Altcoins: Is Altcoin Season Starting?
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Deythere > News > Crypto > Positive Signals for Altcoins: Is Altcoin Season Starting?
CryptoMarketNews

Positive Signals for Altcoins: Is Altcoin Season Starting?

altcoin markets activity and whale transactions. The design features multiple altcoin logos such as X
Ezeudo Nwosu
Last updated: January 18, 2025 11:40 am
By
Ezeudo Nwosu
Published January 18, 2025
2 Min Read
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Crypto analytics firm Santiment has identified promising signals for altcoins following Bitcoin’s surge to $103,256.7, surpassing the $100,000 milestone. A specific metric has revealed a sudden uptick in activity, suggesting a potential rally in the altcoin market.

Contents
Increase in Whale TransactionsTop Altcoins and Whale ActivityImplications for Investors

Increase in Whale Transactions

According to Santiment, large whale transactions have risen significantly across various altcoins, including the stablecoin Dai (DAI) created by Maker. This increase could indicate that investors are anticipating substantial market movements. Santiment notes that the growing acquisition of DAI may imply that investors are preparing to accumulate altcoins using stablecoins.

“Rising activity in stablecoins often signals that substantial funds are ready to be exchanged for altcoins. For instance, Dai is frequently linked to ETH-based assets,” Santiment explains.

Top Altcoins and Whale Activity

Santiment has shared a list of the top 10 altcoins with a market cap exceeding $500 million that have experienced the most significant increases in whale transactions this week. These assets highlight notable movements within the altcoin space.

“Assets with high whale activity are more likely to experience price reversals, whether due to profit-taking or dip-buying movements,” Santiment warns.

Additionally, Santiment has reported a surge in network activity alongside an increase in XRP’s value. XRP is currently trading at $3.24, following a 4.2% drop over the past 24 hours. However, the token recently crossed the $3.39 mark for the first time since January 2018, with 2,365 transactions exceeding $100,000 recorded in just 8 hours. The total number of investors has also grown notably.

altcoin markets activity and whale transactions. The design features multiple altcoin logos such as X

Implications for Investors

These developments present potential opportunities in the altcoin market for investors. However, as Santiment cautions, heightened whale activity could lead to increased market volatility, so investors should remain vigilant.

Dey There will continue to monitor the evolving dynamics of the altcoi

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TAGGED:altcoinsDai (DAI)whale transactionsXRP

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ByEzeudo Nwosu
Ezeudo Nwosu is a blockchain and cryptocurrency professional with over 8 years of experience in the industry. With a background in software engineering, Ezeudo has been at the forefront of developing innovative blockchain solutions that address key challenges in various sectors. His work includes leading blockchain integration projects and advising on the creation of decentralized applications (dApps). Ezeudo is recognized for his deep technical knowledge and his ability to translate complex blockchain concepts into practical applications. At DT NEWS, he offers expert insights into the latest developments in blockchain technology and cryptocurrencies, helping readers stay informed about the future of digital finance.
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