Amid rising digital asset prices this week, a handful of crypto assets have seen an “explosion” of whale activity, according to analytics firm Santiment.
There are comments on social media platform Whale interest.
Describe the company,
“The volume of transactions over $100,000 on each of these networks more than doubled this week compared to the usual 2024 average, indicating a build-up.”
Crypto trader Ali Martinez also noted that whales have purchased 200 million of the top meme asset, Dogecoin (DOGE), since May 30th.
Regarding Bitcoin (BTC), Santiment said there is not as much enthusiasm for the price rise of the top cryptocurrency asset as there was in March, which the analytics firm considers a bullish sign.
“Social platform data shows that Bitcoin at $70,000 is not as big a deal for traders as it was three months ago. In general, the lack of FOMO is a good sign that BTC and other coins may be able to break out as the crowd euphoria that caused previous peaks diminishes.”
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