Crypto analytics firm Santiment says that deep-pocketed investors are buying up Fetch.ai, Bancor and two more altcoins.
The crypto insights platform tells its 89,800 followers that decentralized machine learning network Fetch.ai (FET) leads the altcoin pack in terms of heavy whale buying.
It is followed by decentralized exchange Bancor (BNT), indexing protocol The Graph (GRT), stablecoin governance token Maker (MKR) and blockchain-based gaming platform Enjin (ENJ).
“The number of whale addresses have grown for many assets, and fallen for others. Looking to get into projects where large addresses numbers have been rising? Watch FET, BNT, GRT, MKR and ENJ.”
Looking at Bitcoin, Santiment says that even though the king crypto has rallied above $49,000, market participants appear to doubt BTC’s recent strength.
“Commentary toward BTC right now, however, is actually more negative and sparse than usual. When crypto’s top coin is doubted and overlooked, this historically pushes prices further north.”
As for Ethereum, the crypto analytics firm highlights that ETH’s on-chain activity is on the up and up amid the surge in the value of the leading smart contract platform.
“Ethereum’s climb back toward its May price all-time high continues, as the amount of ETH circulating on the network has hit a one-month high. If this metric climbs further, it will be a component to the #2 market cap asset exceeding its previous [all-time high].”
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/80’s Child
