Top 10 altcoins being hunted the most by whales

The blockchain analytics company Santiment has just released a prominent report on the significant rise to the sky of high-value whale transactions across several cryptocurrency projects, raising predictions about the potential for price growth and strong volatility in the near future.

Santiment has pointed out that some cryptocurrency projects are witnessing outstanding transaction increases with transactions over 100,000 USD, among which Ethereum Name Service (ENS), Compound (COMP), and Virtuals Protocol (VIRTUAL) top the list. Santiment notes that these are projects experiencing significant increases in whale trading activity over the past week compared to the previous week. This suggests the potential for major changes in the price trends of these projects, with the potential for reversals or strong volatility.

Below are the projects with the highest trading increase in the past week:

1. Ethereum Name Service (ENS): +313.46%
2. Compound (COMP): +203.81%
3. Virtuals Protocol (VIRTUAL): +202.13%
4. Dai ( on BNB Chain ): +200%
5. USDC ( on Arbitrum ): +200%
6. Mantle (MNT): +175%
7. Obsessive Compulsive Disorder (OCD): +166.67%
8. USDC ( on Optimism): +100%
9. Wrapped ETH (WETH): +82.26%
10. SPX6900 (SPX): +76.54%

Although some assets on the above list are stablecoins, the most notable is the strong rise in non-stablecoin tokens. These changes indicate a shift in the behavior of whales, which Santiment believes could be a precursor to strong volatility or a trend reversal, according to this platform's historical analysis models.

Whales: The Key to Predicting Price Volatility

Analysts often argue that sudden spikes in whale trading usually reflect significant events such as asset accumulation by large organizations, abrupt asset reallocations, or even large liquidation events. Whale actions, therefore, serve as an important indicator for traders, as they can forecast strong changes in price trends, especially for low liquidity assets like ENS and VIRTUAL.

These signs not only attract the attention of professional traders but also of individual investors looking for opportunities to maximize profits. However, Santiment also warns that these signals need to be combined with other technical indicators and broader on-chain analysis to make more accurate trading decisions.

When whales start making large transactions, this can often have a strong impact on the prices of cryptocurrencies. Monitoring the trading activities of these whales is a common strategy among many professional traders, helping them to detect signs of price trend changes or potential volatility in the future.

For traders monitoring assets like ENS or VIRTUAL, movements in whale trading can be a strong signal regarding the potential for price adjustments or reversals. However, relying on these signals as the sole basis for trading decisions is insufficient. Traders need to combine them with technical analysis, on-chain indicators, and other market factors to make informed and substantiated trading decisions.

The increase in whale transactions on cryptocurrency projects is not only a signal of a change in the behavior of large investors but could also be an indicator of future price volatility. Projects like ENS, COMP, and VIRTUAL are attracting special attention due to the significant rise in whale trading, which could lead to major changes in their price trends.

With the continuous development of the crypto market, monitoring signals from whales and combining them with smart trading strategies will be the key to helping traders maximize potential opportunities in the future.

Annie