New data from market intelligence firm Santiment shows that one of the altcoins that has enjoyed huge returns this year is rife with whale activity.
In a new thread on social media platform – It is one of the leaders in terms of whale activity.
Santiment also said that during the recent cryptocurrency market crash, high-net-worth investors are making moves to accumulate 10 digital assets, including VIRTUAL.
“Despite the sizable cryptocurrency correction this week, several altcoins are seeing very large whale trades, indicating potential dip buying.”
Other notable altcoins on the list include stablecoin issuer Usual (USUAL) and stablecoin Usual USD (USD0), decentralized betting platform Gnosis (GNO), decentralized finance (DeFi) project Aave (AAVE), and Meme. Assets include Floki (FLOKI). .
VIRTUAL is trading at $2.74 at the time of this writing, up almost 20% on the day. It peaked at $3.34 on December 16, and a year ago it was hovering around $0.013.
Moving on to the top cryptocurrency asset by market capitalization, Santiment said Bitcoin (BTC)’s recent decline below $100,000 has created a “buy” mentality among investors.
“With Bitcoin falling to $95,500 today, the percentage of cryptocurrency discussions about buying the cryptocurrency dip reached its highest level in more than eight months. The last time we saw the crowd going crazy buying the dip was the massive crash on August 4th. Since then, Bitcoin market capitalization is 81% higher.”
At the time of writing, Bitcoin is trading at $97,006, a slight decline over the past 24 hours.
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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and that you will be responsible for any losses you may incur. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.
Featured image: Shutterstock/wacomka/Andy Chipus