Prominent cryptocurrency analytics platform Santiment warns that several altcoins may be flashing a bearish signal.
In a post on social media platform
In general, coins being posted to exchanges are considered bearish because it means more supply is available for sale in the open market. Other coins flashing a bearish signal include the governance token for cloud-based blockchain platform Onyxcoin
(XCN), the native asset of automated staking service Lido DAO (LDO) and the token of digital asset exchange Crypto.com (CRO).
“Several cryptocurrencies that may not be on your radar are seeing over $1 million move from coin levels to exchanges. This weekend, stay tuned:
XCN
FDUSD
SPX
LDO
Crow
“WLD.”
Looking at Bitcoin, Santiment says that large Bitcoin wallets, or those holding at least 100 coins, are currently at their second highest level since December of 2017 — which was near the peak of that bull market.
“Bitcoin’s market cap has surged back to the $105,970 level on a bullish Friday for the cryptocurrency filled with positive action. One thing to watch closely is the number of wallets holding at least 100 Bitcoin, which rose to 17,799 addresses before this High price in one month.
Sentiment too He says Conversations regarding inflation data, XRP altcoin payments, and artificial intelligence (AI) are some of the key narratives currently driving the cryptocurrency markets.
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