Whale Interest Surges in Ethereum Altcoins

Ethereum Altcoins with High Whale Activity

According to on-chain data from Santiment, several Ethereum-based altcoins have been experiencing significant whale activity. The “whale transaction count” measures the number of transactions worth $100,000 or more, indicating whale involvement.

Altcoins with Notable Whale Transactions

The following altcoins have recently seen a surge in whale transaction count:

  • Fantom (FTM)
  • Fetch.ai (FET)
  • Render (RNDR)
  • 0x Protocol (ZRX)
  • Reserve Rights (RSR)

Reasons for Whale Interest

Santiment suggests that the recent surge in Ethereum’s market value and dominance may be driving whale interest in ERC20-based altcoins.

Price Impact

The altcoins with high whale activity have all experienced recent price increases. FTM has been the top performer, gaining over 67% in the past week.

Cautionary Note

While high whale transaction count can indicate interest, it doesn’t guarantee a bullish outcome. It only reflects the number of large transactions, not their purpose (buying or selling).

Ethereum Price Performance

Ethereum has outperformed Bitcoin in the past week, rising by around 15% and surpassing $3,900.