Market analysis firm Santiment has revealed some interesting activity in the crypto market, particularly involving some altcoins experiencing significant whale transactions.
Altcoin Surge and Whale Activity
One altcoin, Virtuals (VIRTUAL), a tokenized AI project, has seen a phenomenal 20,000% increase year-to-date. This impressive growth has coincided with substantial whale activity, according to Santiment. They’ve noted that large investors are accumulating several digital assets, including VIRTUAL, amidst the recent market downturn. Other altcoins showing significant whale transfers include Usual (USUAL) and its stablecoin (USD0), Gnosis (GNO), Aave (AAVE), and Floki (FLOKI). At the time of writing, VIRTUAL is trading at $2.74, up nearly 20% for the day.
Bitcoin’s Dip and the “Buy the Dip” Mentality
Santiment also observed a surge in “buy the dip” sentiment among Bitcoin investors following its recent drop below $100,000. The enthusiasm surrounding this dip buying is at its highest point in over eight months, mirroring a similar pattern seen in August. Since that previous dip, Bitcoin’s market cap has increased by 81%. Bitcoin is currently trading around $97,006.
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