{"id":575202,"date":"2024-02-15T19:00:22","date_gmt":"2024-02-15T19:00:22","guid":{"rendered":"https:\/\/www.ktsl888.com\/?p=575202"},"modified":"2024-06-11T08:09:01","modified_gmt":"2024-06-11T08:09:01","slug":"altcoins-drawing-whale-interest-santiment-reveals","status":"publish","type":"post","link":"https:\/\/www.ktsl888.com\/news\/altcoins-drawing-whale-interest-santiment-reveals\/","title":{"rendered":"These Are The Altcoins Drawing Whale Interest, Santiment Reveals"},"content":{"rendered":"

The on-chain analytics firm Santiment has revealed some altcoins currently witnessing high interest from the whales.<\/p>\n

Whale Transactions Have Spiked For These Altcoins Recently<\/h2>\n

In a new post<\/a> on X, Santiment has discussed how several altcoins have been showing interest from the whales. The on-chain indicator of relevance here is the “Whale Transaction Count<\/a>,” which keeps track of the total number of transfers carrying a value of at least $100,000 taking place every day on the blockchain for any given cryptocurrency.<\/p>\n

Such large transfers are generally assumed to be coming from the whale<\/a> entities, as they can only move around amounts this large with single transactions.<\/p>\n

Related Reading: Litecoin Whale Deposits Big To Binance, LTC\u2019s 3% Drop To Extend?<\/a><\/div>\n

When the metric’s value is high, the whales make many transfers. This trend implies that these humongous investors are highly interested in trading around the asset in question.<\/p>\n

On the other hand, the low indicator suggests the whales may not be paying attention to the cryptocurrency as they aren’t making that many moves on the network.<\/p>\n

Now, here is the chart shared by the analytics firm that shows the trend in the Whale Transaction Count for some altcoins over the past month:<\/p>\n

\"Altcoins<\/p>\n

The value of the metric appears to have been quite high in recent days | Source: Santiment on X<\/a><\/pre>\n

As displayed in the above graph, these five altcoins have all seen some boost in their Whale Transaction Counts recently: Injective (INJ)<\/a>, Rocket Pool (RPL), PlayDapp (PLA), STP (STPT), and Basic Attention Token (BAT).<\/p>\n

Given this close surge in the indicator for all of these assets, it would appear possible that the whales have now started playing around with alts after gaining confidence from the sharp rally that Bitcoin has enjoyed.<\/p>\n

Now, what does this fresh whale interest mean for these altcoins? Usually, a high value of the Whale Transaction count is a predictor of volatility for any cryptocurrency.<\/p>\n

This is because the whales’ transfers carry a significant value. Of course, any single transaction will likely not be big enough to move the market appreciably on its own, but if many such transfers occur at once, the asset could feel some turbulence.<\/p>\n

Related Reading: Extreme Greed Is Back For Bitcoin, Is It Time To Sell?<\/a><\/div>\n

However, any such volatility that may arise out of this high whale trading activity can theoretically go in either direction. The Whale Transaction Count only measures the pure number of large transfers happening on the network and doesn’t provide any information about whether these are buying or selling moves.<\/p>\n

As such, the only thing that can be said about these altcoins observing high interest from these humongous holders is that they are now more likely to display some volatility, the direction of which is uncertain.<\/p>\n

INJ Price<\/h2>\n

The 31st-placed coin in the market cap list, Injective, is trading around $35 after going up more than 4% in the past week.<\/p>\n

\"Injective<\/p>\n

Looks like the price of the asset has been consolidating recently | Source: INJUSD on TradingView<\/a><\/pre>\n
Featured image from Vivek Kumar on Unsplash.com, Santiment.net, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

The on-chain analytics firm Santiment has revealed some altcoins currently witnessing high interest from the whales. Whale Transactions Have Spiked For These Altcoins Recently In a new post on X, Santiment has discussed how several altcoins have been showing interest from the whales. The on-chain indicator of relevance here is the “Whale Transaction Count,” which keeps track of the total number of transfers carrying a value of at least $100,000 taking place every day on the blockchain for any given cryptocurrency. Such large transfers are generally assumed to be coming from the whale entities, as they can only move around amounts this large with single transactions. Related Reading: Litecoin Whale Deposits Big To Binance, LTC\u2019s 3% Drop To Extend? When the metric’s value is high, the whales make many transfers. This trend implies that these humongous investors are highly interested in trading around the asset in question. On the other hand, the low indicator suggests the whales may not be paying attention to the cryptocurrency as they aren’t making that many moves on the network. Now, here is the chart shared by the analytics firm that shows the trend in the Whale Transaction Count for some altcoins over the past month: The value of the metric appears to have been quite high in recent days | Source: Santiment on X As displayed in the above graph, these five altcoins have all seen some boost in their Whale Transaction Counts recently: Injective (INJ), Rocket Pool (RPL), PlayDapp (PLA), STP (STPT), and Basic Attention Token (BAT). Given this close surge in the indicator for all of these assets, it would appear possible that the whales have now started playing around with alts after gaining confidence from the sharp rally that Bitcoin has enjoyed. Now, what does this fresh whale interest mean for these altcoins? Usually, a high value of the Whale Transaction count is a predictor of volatility for any cryptocurrency. This is because the whales’ transfers carry a significant value. Of course, any single transaction will likely not be big enough to move the market appreciably on its own, but if many such transfers occur at once, the asset could feel some turbulence. Related Reading: Extreme Greed Is Back For Bitcoin, Is It Time To Sell? However, any such volatility that may arise out of this high whale trading activity can theoretically go in either direction. The Whale Transaction Count only measures the pure number of large transfers happening on the network and doesn’t provide any information about whether these are buying or selling moves. As such, the only thing that can be said about these altcoins observing high interest from these humongous holders is that they are now more likely to display some volatility, the direction of which is uncertain. INJ Price The 31st-placed coin in the market cap list, Injective, is trading around $35 after going up more than 4% in the past week. Looks like the price of the asset has been consolidating recently | Source: INJUSD on TradingView Featured image from Vivek Kumar on Unsplash.com, Santiment.net, chart from TradingView.com<\/p>\n","protected":false},"author":542,"featured_media":575229,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[87949,91651,91650,88527,142,51066,86854,57231,14781],"class_list":["post-575202","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoin-interest","tag-altcoin-whale-interest","tag-altcoin-whale-transactions","tag-altcoin-whales","tag-altcoins","tag-alts","tag-injusdt","tag-santiment","tag-whales"],"acf":[],"yoast_head":"\nThese Are The Altcoins Drawing Whale Interest, Santiment Reveals<\/title>\n<meta name=\"description\" content=\"The on-chain analytics firm 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Verma","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.ktsl888.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/3d9c67b0b4a94fb480d44f29de96266e?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/3d9c67b0b4a94fb480d44f29de96266e?s=96&d=mm&r=g","caption":"Keshav Verma"},"description":"Keshav is currently a senior writer at NewsBTC and has been attached to the website since June 14, 2021. Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/www.ktsl888.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"These Are The Altcoins Drawing Whale Interest, Santiment Reveals","url":"http:\/\/www.ktsl888.com\/news\/altcoins-drawing-whale-interest-santiment-reveals\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/www.ktsl888.com\/news\/altcoins-drawing-whale-interest-santiment-reveals\/"},"thumbnailUrl":"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/02\/vivek-kumar-fs283LESUtc-unsplash.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/02\/vivek-kumar-fs283LESUtc-unsplash.jpg?fit=2880%2C1672"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoin interest","altcoin whale interest","altcoin whale transactions","altcoin whales","altcoins","alts","injusdt","santiment","whales"],"dateCreated":"2024-02-15T19:00:22Z","datePublished":"2024-02-15T19:00:22Z","dateModified":"2024-06-11T08:09:01Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"These Are The Altcoins Drawing Whale Interest, Santiment Reveals\",\"url\":\"http:\\\/\\\/www.ktsl888.com\\\/news\\\/altcoins-drawing-whale-interest-santiment-reveals\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/www.ktsl888.com\\\/news\\\/altcoins-drawing-whale-interest-santiment-reveals\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/www.ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/vivek-kumar-fs283LESUtc-unsplash.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/www.ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/vivek-kumar-fs283LESUtc-unsplash.jpg?fit=2880%2C1672\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/www.ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoin interest\",\"altcoin whale interest\",\"altcoin whale transactions\",\"altcoin whales\",\"altcoins\",\"alts\",\"injusdt\",\"santiment\",\"whales\"],\"dateCreated\":\"2024-02-15T19:00:22Z\",\"datePublished\":\"2024-02-15T19:00:22Z\",\"dateModified\":\"2024-06-11T08:09:01Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/02\/vivek-kumar-fs283LESUtc-unsplash.jpg?fit=2880%2C1672","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/posts\/575202"}],"collection":[{"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/comments?post=575202"}],"version-history":[{"count":0,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/posts\/575202\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/media\/575229"}],"wp:attachment":[{"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/media?parent=575202"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/categories?post=575202"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/tags?post=575202"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}