Whales Are Accumulating Several Altcoins and Losing Interest in Three Crypto Assets, According to Analytics Firm Santiment
Crypto intelligence firm Santiment says three altcoins are hosting booming whale populations.
The analytics company notes that it is keeping a close watch on whale activity in REN.
According to Santiment, the number of whales holding a minimum of one million REN surged nearly 15% from 81 to 93 in a span of 48 hours. The firm highlights that the growing number of whales has contributed to the sudden uptick in REN’s valuation on February 5th.
Another coin with a growing whale population is Band Protocol (BAND). Santiment reveals that whales holding at least 10,000 BAND tokens jumped over 67% from 49 to 82 in under four months. The crypto insights firm adds that the increase in the number of whales coincides with the growth in value of the Chainlink competitor.
The third coin showing whale accumulation is Aave. Santiment says the number of addresses holding 1,000 or more Aave tokens has soared from 266 to 399, representing growth of 50%, as the decentralized finance (DeFi) lending protocol’s value skyrocketed over the last month.
Santiment also reveals that whales are losing interest in three altcoins.
According to the crypto market intelligence platform, addresses holding 10,000 or more BNB tokens have fallen from 154 to 147 in a span of three days.
DeFi yield aggregator yearn.finance (YFI) is also seeing a decrease in whale interest. Santiment reports that the number of whales dropped 10% from 43 to 39 in three days.
Whales are migrating out of Celsius Network (CEL) as well. According to Santiment, whales are leaving the peer-to-peer lending protocol in droves.
“There were 156 addresses with at least 100,000 CEL a year ago, 86 a week ago, and just 79 addresses now. It goes without saying that this is a highly concerning sign.”
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