Whales Aggressively Accumulating One Crypto Asset Class As Bitcoin Ranges, Says Santiment – Here’s What It Means

According to Blockchain analytics platform Santiment, savvy crypto-players have been reportedly stockpiling an abundance of stablecoins – such as Pax Dollar ( ) and Dai ( ) – as Bitcoin ( ) Trading hovers in the $30K range. Reports from the firm have deemed it suggestive of sizeable purchases of the leading cryptocurrency in the near future, with the renowned asset up 1.3% to standing at $30,905.

But further speculation has inferred that Bitcoin accumulation could inform further ‘altcoin’ invesment. With Polygon ( ) and Binance Coin ( ) receiving bigger plus fairer slices of the trading-volume pie. MATIC is $0.80 while BNB is currently worth $251 at time of writing, and such investments could prove profitable in the short-term according to Santiment, as traders rake in funds from profits on Bitcoin.

Strength can often be seen drawn from other aspects of the digital asset space too – which Santiment has identified though their “Network Realized Profit-Loss” (or NRPL) tracker for both BTC and Ethereum ( ). The tracker claims both to be held in bullish buoyancy with the latter crypto leading the pack up 3.5% in the past day to being primed for $1,949 during Market-Analytics timing.

Robert Wilson author
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