Crypto News- Santiment, a blockchain intelligence platform, recently took to X (formerly Twitter) to reveal a significant surge in whale activity for several altcoins in the past few days. Interestingly, this increase in activity among major holders occurred at a time when most of the altcoin market was grappling with losses.
Whale Activity Surges in REQ, TUSD, OCEAN, and DYDX, According to Recent Report
Historically, when the prices of altcoins dip and there’s a noticeable uptick in whale activity, it often signifies the potential for a bullish reversal. In their post, Santiment specifically brought attention to four altcoins: dYdX (DYDX), Ocean Protocol (OCEAN), TrueUSD (TUSD), and Request (REQ), as these coins had recently garnered significant interest from whales.
As of the time of this report, CoinMarketCap data indicated that the overall cryptocurrency market had experienced a 0.58% decline in its collective valuation over the past 24 hours, resulting in an estimated market capitalization of approximately $1.05 trillion.
Among the altcoins highlighted in Santiment’s post, OCEAN was the standout performer, with a 1.71% increase in its price over the previous 24 hours, reaching $0.2815 at the time of this report. However, it had slightly retraced from its 24-hour high of $0.2899.
In contrast, REQ suffered a substantial 24-hour loss of 20.21%, with its price standing at $0.09167. Despite this decline in price, REQ witnessed an uptick in trading volume, increasing by 10.85% to $91,364,467 during the same period.
DYDX, on the other hand, experienced a 2.31% price drop over the past 24 hours, trading at $1.84 at the time of this report. This decline was consistent with DYDX’s negative performance over the past week, as its price had fallen by 7.92% during that period.
Meanwhile, TUSD, the stablecoin, was trading just below the one-dollar mark at $0.9996, following a marginal 0.05% decrease in its price.
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