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Blockchain analytics platform Santiment is bullish on an upcoming price hike for five crypto assets. However, the context favors a Altcoin prices fall more compared to Bitcoin (BTC). Incidentally, Santiment believes that Litecoin (LTC) and four other altcoins are undervalued.
The Litecoin and altcoins should grab your attention
According to a publication on his site and relaunch on TwitterSantiment claims that Litecoin, decentralized exchange Serum (SRM), Radicle (RAD), VIDT Datalink (VIDT) and Highstreet (HIGH) could. experience a significant rise in their prices soon.
” As altcoins continue to rise and Bitcoin and Ethereum manage to stay afloat in their ranges, we see tons starting to slide into right zones. Assets or traders especially hurting and could hit bottom in the near future. » said Santiment.
When it comes to bitcoin, Santiment claims that the king supply of cryptocurrencies on the exchanges is at its lowest level in 65 months. According to the firm, the low level of Bitcoin on the possible bullish exchanges for BTC.
” The amount of Bitcoin on exchanges is now at its lowest ratio since December 2017. Low in five and a half years representation a good sign that there is increased interest in traders’ personal holdings. »
Whales help build confidence
As reported by DailyHodl, Santiment shows the movements of the assets related to the Whales that help to consolidate their position. In fact, in line with his theory of a decrease in BTC supply living on exchanges, Santiment says that Binance’s cold wallet has moved more than two billion dollars worth of Bitcoin out of custody.
” One of Bitcoin’s biggest whale launches, the Binance cold wallet, was extremely active today. Through 4 transactions, this wallet withdrew $2.26 billion worth of BTC from its holdings. Bitcoin supply on the exchanges fell from 6.78% to 5.84%. »
In short, the fact that investors have saved Bitcoin and some altcoins like Litecoin in their accounts which can mean that they are expecting a bull run. Isn’t Santiment’s argument trivial?
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SEO web editor specializing in cryptocurrencies, decentralized finance and Web 3, I produce attractive and topical texts. My goal is to democratize the crypto world and inform readers of news in the sector.
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The views and opinions expressed in this article are the sole responsibility of the author, and should not be considered investment advice. Do your own research before making any investment decision.
