Whale Activity Spikes in Crypto Market
Analytics firm Santiment has reported a surge in whale activity across several major cryptocurrency networks. Whales on the Bitcoin, Ethereum, Cardano, and Chainlink networks have all hit their highest activity levels in the past six months.
Santiment suggests that this spike in activity may indicate profit-taking but does not necessarily signal that market tops are imminent.
Market Performance
Bitcoin (BTC) is currently trading at $37,388, up nearly 8% over the past week. Ethereum (ETH) is trading at $2,084 and has seen a 14% increase in the past week. Cardano (ADA) is at $0.379 with a more than 16% gain, and Chainlink (LINK) is trading at $15.43, up more than 35% in the past week.
Santiment also notes that Solana (SOL), an Ethereum competitor, is gaining attention online and has reached an 18-month high. SOL is currently trading at $56.59 and has seen a more than 43% increase this week.
Hot Take: Increased Activity and Market Performance
It’s clear that there has been a significant uptick in crypto market activity, with whale activity on the rise and various cryptocurrencies showing substantial gains. This surge in activity indicates growing interest and investment in the digital asset space, suggesting a positive outlook for the market as a whole.
By
By
By
By
By
By