Whales Showing Increased Interest in Ethereum-Based Altcoin as it Surges 832% in Two Months: Santiment
The crypto analytics firm Santiment has observed a significant increase in whale activity for Tellor (TRB), an Ethereum-based altcoin that competes with Chainlink (LINK). On Monday, TRB recorded 51 unique transactions worth over $100,000, reaching an all-time high. Despite its remarkable gains of over 832% in the past two months, TRB is still down by more than 43% from its peak in May 2021 when it reached $161.12.
Santiment also notes that the number of active addresses and newly created addresses for TRB has been on the rise. The altcoin currently holds the 192nd spot in terms of market capitalization and continues to gain traction in October.
Other Altcoins Experiencing Decoupling from Bitcoin
Santiment also highlights the recent performance of other altcoins. LINK, Polygon (MATIC), Aptos (APT), and Aave (AAVE) are all witnessing their best-performing decouplings this year. Unlike previous instances where Bitcoin’s price fell below $30,000, this time altcoins are surging alongside BTC’s breakthrough.
LINK is ranked 14th by market cap and is currently priced at $10.31. MATIC holds the 13th spot and is valued at $0.625. APT ranks 35th and trades at $6.23, while AAVE sits at the 41st position with a price of $83.31.
Hot Take: Whales Flock to Ethereum-Based Altcoin Amidst Market Surge
The surge in interest from whales towards Tellor indicates growing confidence in the altcoin’s potential. With an impressive rally of over 832% in just two months, TRB has caught the attention of investors seeking alternative opportunities in the market. The increasing number of active and newly created addresses also suggests a rising level of participation from retail investors.
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