According to cryptocurrency analysis firm Santiment, some altcoins have been experiencing spikes in whale activity in recent days.
The analytics firm said that one should be wary of cryptocurrencies that show high whale activity, arguing that these are harbingers of impending upward price movements.
Here are the altcoins that have seen the most whale activity in the last seven days, according to Santiment's list, and the percentage increase in whale activity:
- Chromia (CHR) – 800%
- HarryPotterObamaSonic10Inu (BITCOIN) – 740%
- Civic (CVC) – 588%
- Cartesi (CTSI) – 550%
- Chiliz (CHZ) – 333%
- Flux (FLUX) – 275%
- Virtua (TVK) – 200%
- Dai (DAI) – 180%
- Gomining (Gomining) – 157%
- PAX Gold (PAXG) – 145%
While examining whale movements, the analytics company measured transfers worth over $100,000 made by whales in the last seven days.
When the last 30 days were examined, the altcoin that experienced the highest increase in whale activities was Virtua (TVK) with 1900%.
As is known, the world's largest cryptocurrency, Bitcoin, experienced a serious decline today and was forced to drop below $ 60,000. At the time of writing, it is being traded at $ 59,720.
*This is not investment advice.