Coin Edition -
- Santiment revealed in an X post that whale activity for OCEAN, DYDX, TUSD, and REQ has spiked.
- According to the post, this increase in whale demand when prices drop has historically signaled a bullish turnaround.
- At press time, OCEAN was the only altcoin mentioned in Santiment’s post that achieved a 24-hour gain.
The blockchain intelligence platform Santiment revealed in an X (formerly Twitter) post yesterday that whale activity for several altcoins has spiked over the past few days. Interestingly, this increase in activity by large holders occurred during a period when the majority of the altcoin market recorded losses.
According to Santiment, a rise in whale activity when altcoin prices drop has historically indicated a high probability of a bullish turnaround. In the post, Santiment highlighted dYdX (DYDX), Ocean Protocol (OCEAN), TrueUSD (TUSD), and Request (REQ) as altcoins to watch, given the fact that whales shifted their focus on these cryptocurrencies recently.