Leading analytics firm Santiment says the recent boom in the digital asset market has been accompanied by a spike in crypto whale activity.
Santiment notes that whales on the Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), and Chainlink (LINK) networks have all reached their highest levels of activity in the past six months.
Explains the analytics company:
“There may be some profit taking at the end of the week, but this doesn’t necessarily mean top numbers are on the way.”
BTC is trading at $37,388 at the time of writing. The top-ranked crypto asset is up nearly 8% over the past seven days.
ETH, the second largest crypto asset, is trading at $2,084 at the time of writing and is up almost 14% in the past week.
ADA is trading at $0.379 at the time of writing. The ninth-ranked crypto asset by market capitalization is up more than 16% in the past seven days.
LINK is trading at $15.43 at the time of writing. The twelfth-ranked crypto asset by market capitalization is up more than 35% in the past week.
Santiment too notes that Ethereum competitor Solana (SOL) is getting a lot of attention online as the crypto asset posts an 18-month high.
“SOL discussion rates have risen again, indicating that the mainstream crowd is recognizing the decoupling of the asset from other assets. Financing rates are high, but are not yet in a ‘danger zone’.”
SOL is trading at $56.59 at the time of writing. The seventh-ranked crypto asset by market capitalization is up more than 43% this week.
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Generated image: Midjourney