Crypto News- In a recent post by the blockchain analytics company Santiment, it was revealed that altcoins are currently grappling with a lack of consensus regarding the direction of their price movements. Coinciding with this uncertainty, four cryptocurrencies—Fetch.ai (FET), Loopring (LRC), Ren (REN), and Virtua (TVK)—have observed an increasing influx of their supplies onto various exchange platforms.
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Santiment’s analysis suggests that the growing presence of these cryptocurrencies on exchange platforms often serves as an indicator of heightened potential for future price volatility. Among these altcoins, REN stands out, as a substantial 38.7% of its total supply currently resides on exchanges.
Comparatively, LRC and FET have 27.8% and 18.6% of their supplies located within exchange platforms, respectively. An interesting note is that a significant portion, 67.7%, of TVK’s supply is found on platforms rather than in self-custody wallets. According to the most recent data available from CoinMarketCap, these four altcoins failed to reach a consensus in the past 24 hours. Specifically, LRC’s price experienced a decline of 0.61%.
Similarly, REN witnessed a 1.38% drop in its price during the last day of trading. At the time of writing, REN was trading at $0.04353, while LRC had a value of $0.1751. Both LRC and REN also saw reductions in their daily trading volumes in correlation with their price decreases.
REN’s 24-hour trading volume decreased by 16.64%, resulting in an estimated volume of $7,124,431. Meanwhile, LRC’s volume stood at approximately $6.293 million, representing a 28.51% decline over the past day.
On the contrary, FET experienced a 0.99% increase in its price over the past 24 hours, bringing it to $0.2176. Among the four highlighted altcoins, TVK demonstrated the most significant gain within the same timeframe, surging by 4.12% and reaching a price of $0.02071, according to CoinMarketCap data.
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