In the volatile world of cryptocurrency trading, large investors known as whales play a significant role in market movement. Despite the ongoing fluctuations in the crypto market, data intelligence firm Santiment has identified the top ten crypto projects experiencing a surge in whale activity.
Ethereum-based SuperRare
One of the projects topping the list is SuperRare, an Ethereum-based platform that specializes in non-fungible tokens (NFTs) and digital art. In the past 30 days, SuperRare has seen a staggering 4,087% increase in whale activity, indicating a strong interest from high-value investors.
PepeFork and Stargate Finance
Following SuperRare closely are PepeFork and Stargate Finance, with growth rates of 2,400% and 2,083% respectively. PepeFork is a meme coin project with a volume of $1.67 million, while Stargate Finance serves as a composable liquidity transport bridge for omnichain decentralized finance (DeFi) with $5.56 million in volume.
Another notable project with increased whale activity is the Polygon Ecosystem Token (POL), which recently underwent a token migration process. POL witnessed a 1,345% spike in whale activity, likely due to the network’s upgrade aiming to enhance utility and align with its vision of an aggregated network of blockchains.
Carrieverse and Beyond
Carrieverse, a web3 gaming metaverse, saw a 1,000% growth in whale activity, showcasing the growing interest in gaming-related crypto projects. This trend extends to other projects such as SelfKey, Tokemak, Rally, Renzo, and Voxie Tactics, all experiencing a surge in whale activity despite price declines in their native tokens.
Interestingly, the prices of these projects’ native tokens have seen significant declines in the last thirty days, with some experiencing double-digit plunges. This reflects the overall market sentiment and the challenges faced by both investors and projects in the current crypto landscape.
While the broader crypto market remains volatile, the increase in whale activity in these top projects sheds light on the shifting dynamics within the ecosystem. Despite price fluctuations, whales continue to drive interest and investment in projects that show promise for future growth and development. As the market evolves, keeping a close eye on whale behavior can provide valuable insights into potential market movements and trends.
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