While some altcoins attracted the attention of investors with their rise, Bancor (BNT) was the most notable among these altcoins.
While BNT continues to be talked about with its 71% rise, Santiment examined some altcoins other than BNT.
Stating that altcoin networks such as HOT and CTSI have also become active, Santiment stated that the price did not react despite the activity in these networks.
“A network's onchain or social activity can increase for many reasons. Sometimes networks become extra active due to price increases due to recent major events. At this point, the activity on the BNT network is due to the 71% price increase BNT experienced.
However, activity in networks such as HOT and CTSI, which have not experienced a significant increase in price, may indicate that price volatility will increase in the coming days.
In this context, some altcoins look attractive. Because there are projects that have not seen any price increase recently, but have increased network growth or whale transactions and accumulation.
These are Bancor (BNT), Cartesi (CTSI), Holo (HOT), Powerpool (CVP), Storj (STORJ), Unilend (UFT).”
📊 A network's #onchain or social activity can get hot for many reasons. $BNT's +71% price surge is an obvious one, but others like $HOT & $CTSI could be brewing due to volatility that hasn't even happened yet. Read our latest insight on assets to watch. https://t.co/PWy0FJPfqh pic.twitter.com/Fm3rNEDABH
— Santiment (@santimentfeed) October 10, 2023
Santiment said that although there was no obvious price increase in two of the altcoins he listed (HOT and CTSI), there was an increase in transaction volume, active addresses and whale transactions.
Santiment also added that although there is activity on the HOT and CTSI networks, there is no guarantee that the price increase will occur anytime soon.
Finally, Santiment warned investors that increased whale activity can often be a harbinger of potential price fluctuations.
*This is not investment advice.
