Crypto Market Update: Bancor (BNT) Skyrockets by 65% on ARB Fast-lane Protocol and Whale Activity

Crypto Market Update: Bancor (BNT) Skyrockets by 65% on ARB Fast-lane Protocol and Whale Activity

Crypto News – The cryptocurrency market is currently undergoing a significant downward correction, triggered by a firm rejection near crucial resistance levels. In this market trend that appears mixed and bearish, bold investors are venturing into emerging crypto projects, aiming to capitalize on their sudden price surges. Interestingly, the market’s low volatility has directed investors towards potentially profitable cryptocurrencies, with Bancor, Cartesi, and Holo emerging as the trending topics, each displaying notable price fluctuations.

HODLers Grow Impatient Due to Stagnant Market

The stagnant markets have notably affected even the most resilient traders and investors. While many have been holding onto their investments, numerous professional traders have been strategically taking advantage of projects that are being overlooked.

For those keen on staying updated on projects that might be statistically poised for the next surge, Santiment’s recently introduced Asset Activity Matrix is a valuable tool. Individuals can create a copy and integrate their Sanbase API to access real-time data for approximately 175 projects.

In utilizing this version, the focus is on identifying projects that exhibit a plethora of recent red boxes, highlighting the top 5 days (based on the past 90) for some of Santiment’s most insightful metrics. Conversely, the bottom five days are highlighted in blue, indicating networks that are notably inactive (and perhaps best avoided).

According to Santiment, networks experience heightened activity due to recent significant price movements. However, the most exciting opportunities may lie in projects that have not only witnessed noteworthy price surges lately but have also seen a surge in network growth, whale transactions, and accumulation.

Here are a few projects likely to exhibit increased volatility due to a surge in activity not observed on their respective networks for some time:

Bancor ($BNT): Notable for a Surge in Transaction Volume, Active Addresses, Network Growth, Whale Transactions, Exchange Inflow, Age Destroyed (Consumed)

Cartesi ($CTSI): Distinguished by High Transaction Volume, Active Addresses, Whale Transactions, Age Destroyed (Consumed)

Holo ($HOT): Standout features include High Whale Transactions, $100K-$1M Whale Accumulation, Exchange Inflow, Age Destroyed (Consumed)

Powerpool ($CVP): Noteworthy for High Active Addresses, Network Growth, $100K-$1M Whale Accumulation, Age Destroyed (Consumed)

Storj ($STORJ): Notable for High Transaction Volume, Active Addresses, Network Growth, Whale Accumulation, Age Destroyed (Consumed)

Unilend ($UFT): Highlighted for High Transaction Volume, Active Addresses, Network Growth, Whale Transactions, $100K-$1M Whale Accumulation, Exchange Inflow

It’s worth noting that four out of these six highlighted projects may be experiencing increased network activity due to recent price pumps. For the remaining two, there are no guarantees of an imminent price surge. Therefore, it’s essential to conduct your research, evaluate these projects, and keep an eye on others showing similar heightened network activity in the coming weeks.

BNT Records a Massive Gain of 65%

The cryptocurrency market is experiencing relatively high volatility over the weekend. Bitcoin and various altcoins have shown fluctuations near resistance levels. However, amidst this, Bancor (BNT) has emerged as the standout performer, experiencing a remarkable surge in its valuation, earning the title of the weekend’s top gainer in the market.

This impressive price upswing in BNT can be primarily attributed to the recent introduction of the ARB Fast-lane protocol. This protocol empowers users to engage in arbitrage opportunities between BNT and other decentralized exchanges (DEXs), significantly influencing Bancor’s recent price surge.

Moreover, a surge in whale activity has come to light, as a cryptocurrency wallet linked to Upbit, a prominent South Korean cryptocurrency exchange, acquired a staggering 4.71 million BNT tokens, equivalent to approximately $2.5 million. This substantial acquisition contributed to BNT’s price surging by over 65% in just a week.