Crypto Whales Are Quietly Accumulating These Three Altcoins, According to Analytics Firm Santiment

Sunday 07 March 2021, 6:43 PM AEST - 1 month ago

Crypto analytics firm Santiment is revealing which altcoins crypto whales have been stockpiling over the past week.

In a new report on market conditions, Santiment says that as of March 3rd, the number of whales holding 100+ yearn.finance (YFI) tokens stands at 68, up from 64 the previous week.

Source: Santiment

The Enjin (ENJ) gaming token is also the subject of renewed whale interest this week, according to Santiment. There are 91 ENJ holders with more than 1 million tokens, which is up from 84 the previous week.

Source: Santiment

In addition, Santiment noticed that whales are accumulating Crypto.coms native asset CRO at a significant pace. The firm shows that on March 3rd, 2,591 individuals hold 10,000+ CRO tokens, representing an increase of 2.78% in a span of one week.

Source: Santiment

The three altcoins that whales are ditching either in favor of cash or other assets are layer 2 scaling solution Polygon (MATIC), virtual reality platform Decentraland (MANA) and off-chain scaling solution Raiden (RDN).

Although MATICs whale population may be dropping, Santiment recently reported that the scaling solution, along with ENJ, Theta Fuel (TFUEL), and XinFin (XDC), are currently outperforming most of the market, especially BTC.

While some altcoins may be outpacing Bitcoin as of late, Santiment tells its 49,500 Twitter followers that crypto whales are eating up BTC supplies, possibly preempting a major run-up for the largest crypto asset by market cap.

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