• Whales have been active around the point of the rally; this movement is expected to explode by 30%. 
• Altcoins are rallying around in 2023 and are expected to spike by 20%.
• FOMO may affect the market. 

Movements of whales in crypto influence the asset’s price to a certain extent. A rally generally follows their interest in it; analytics firm Santiment recently revealed that whale transactions had increased considerably for Litecoin (LTC) and another two Ethereum-based altcoins. 

តើ​នេះ​មានន័យថា​ម៉េច​?

The market intelligence firm hints that Litecoin (LTC), the supposed Bitcoin (BTC) alternative, is experiencing reinvigoration of whale activities, which could cause another price explosion of 30%. Similar instances marked history when whales increased their activities, and this action was centered around the LTC spike. 

Litecoin (LTC)

នៅពេលសរសេរ។ LTC was trading at $94.68 with a jump of 6.68%, while its value against Bitcoin was at 0.004078 BTC, rising by 5.69%. Its market cap grew by 6.68% to be at $6.8 billion. Also, its volume saw a massive rise of 78.48% to $765 million in the last 24 hours. LTC is ranked at 13 and shares a market dominance of 0.65%.

The analyst also says that the whales are also showing interest in AAVE, decentralized exchange DyDx (DYDX), and the scaling solution Polygon; last month, their prices also increased considerably.

Aave (AAVE), DYDX

At the time of writing, AAVE was trading at $86.06 with a drop of 1.15%, while its value against Bitcoin dropped by 2.01% to 0.003711 BTC. Its market cap suffered by 1.17% to be at $1.2 billion, while its volume massively sunk by 22.59% to $78 million. Ranking at 42, shares a market dominance of 0.11%.

DYDX was trading at $2.27 with a correction of 2.44%, while its value against Bitcoin dropped by 3.28% to 0.00009807 BTC. Its market cap sank by 2.45% to $355 million, while its volume corrected by 39.02% to $122 million. Being ranked at 104 shares a market dominance of 0.95%. 

The analyst noted that the altcoins overall had a strong rally at the start of the year and thinks it is an ongoing process, with many considerable assets being up by 20% or more. Although after 5 consecutive days of crypto-dip, prices are around the resistance. 

“Social spikes and FOMO may cause a top, or traders will scoff this run (allowing rallies to continue).”

Source: https://www.thecoinrepublic.com/2023/01/29/whales-munching-on-ltc-and-two-other-ethereum-based-altcoins-santiment/