Wal activities indicate possible turning points for important old coins, says Santiment

A new analysis from Santiment indicates that large crypto investors-often referred to as “whales”-may set the course for significant market movements for several old coins.

The company uses a key figure that pursues blockchain transactions over $ 100,000 to identify potential highs and lows and show patterns in which strong activities are often preceded by strong market reactions.

Based on historical cases-such as the Bitcoin crash in December 2017 and recreation in mid-2021-Santiment finds that sudden whale rise often coincides with important turning points on the cryptom market.

In its latest breakdown, the company emphasizes six old coins, in which a remarkable participation of whales can be observed. Three of them seem to be in an accumulation phase, while three others could come under pressure at short notice.

One of those who show strength are

Shib reached a five-month high at the Wal-Trades on June 5, whereupon the course rose by 10%-possibly the beginning of a wider rally.
Ankr, which fell by 23% last month, recorded eight large transactions on June 8, which indicates a possible trend reversal.
On June 9, LCX has had the most active day for whales since February, which coincided with a price increase of 8%.

For caution:

After an increase of almost 500%, SPX6900 recorded 134 large transactions in three months – probably profit.
On June 9, Comp recorded 157 large movements, similar to an increase that preceded a local high in April.
Uma rose by over 50%at the beginning of this month, but reached the highest number of Wal transactions of the year on June 8, which indicates a possible sales pressure.

The analysis of Santiment indicates that the behavior of the whales continues to be an important indicator of impending volatility – be it a accumulation before recovery or distribution near a maximum.

Alexander has been working in the crypto industry for three years and has made a name for himself during this time through his active participation in observing the market dynamics and technological innovations. His interest in cryptocurrencies and new technologies is not just a professional obligation, but a deep personal passion. He follows the news from the industry every day, analyzes trends and is enthusiastic about every new step in the development of blockchain solutions. His enthusiasm drives him to constantly learn and share his knowledge because he sees the future in the digital financial world and its role in global transformation.