Aptos (APT) Partnership with Microsoft Could Lead to Higher High
A blockchain analytics platform, Santiment, believes that Aptos (APT), a top-50 altcoin by market cap, is on the verge of an upside move. According to Santiment, the recent partnership between Aptos and Microsoft to develop AI tools for blockchain integrations has caused the token to decouple. This has resulted in major FOMO among the crowd, although the excitement has since calmed down. However, rising volume and developer activity suggest the potential for another higher high for Aptos.
Shiba Inu (SHIB) Outperforms Other Mid and Low-Cap Altcoins
While most mid and small-cap altcoins struggle to gain traction, Shiba Inu (SHIB) is performing relatively better. Santiment reports that many traders have shifted their focus to SHIB, as it is one of the few bright spots in the market. SHIB has seen a 19% increase in price and rising social volume.
Ethereum’s Top 10 Addresses Hold Over a Third of the Supply
Santiment highlights that the top 10 addresses of Ethereum (ETH) now hold more than a third of the total coin supply. Over the past five years, these addresses have gone from owning 11.2% of ETH to now owning 34.6%. This accumulation of ETH by the largest addresses amounts to 27.86 million ETH, worth $51.6 billion.
Closing Thoughts: Potential Upside for Aptos, SHIB Outperforms, and ETH Concentration
Santiment’s analysis suggests that Aptos may experience an upward movement due to its partnership with Microsoft. In contrast, SHIB has shown relative strength compared to other altcoins. Ethereum’s concentration of supply among its top addresses raises questions about the distribution and decentralization of the asset. Traders and investors should closely monitor these developments to make informed decisions.
Hot Take: Aptos, SHIB, and Ethereum—Insights from Santiment
Santiment’s analysis provides valuable insights for crypto readers. The potential for Aptos to reach a higher high after its partnership with Microsoft, the strong performance of SHIB compared to other altcoins, and the concentration of Ethereum’s supply among its top addresses are all noteworthy trends in the market. Traders and investors should carefully consider these factors when making decisions about these cryptocurrencies.
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