Crypto Analyst Identifies 6 Overlooked Altcoins That Could Be Due For A Price Surge
October 10 2023 - 5:00PM
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With tens of thousands of altcoins circulating the market, crypto
investors can easily miss out on the next 100x coin due to it not
being on their radar. This is often not the fault of the investor
as it can be hard to keep track of so many coins. As a result of
this, a Santiment analyst has presented a total of 6 overlooked
altcoins that could be primed for a rally. Crypto Analyst Presents
Altcoins Using Network Activity As pointed out by the crypto
analyst in the Santiment post, the altcoins outlined were picked
due to an uptick in their network activity. These tokens have been
able to stay under the radar but their activities spread across
transaction volumes, network growth, and large transaction numbers,
among others, have caught attention. Related Reading: Why Does
Ripple Return Unlocked Tokens To Escrow? Pro-XRP Lawyer Provides
Answers “The extra juicy opportunities lie with projects that maybe
haven’t seen any special price decouplings recently, yet have a
surge in network growth, or whale transactions and accumulation.”
He further added that these projects are “at minimum, likely to
have some increased volatility due to extra activity that hasn’t
existed on their respective networks in quite some time.” 1 –
Bancor (BNT) Emerges Top Of Altcoins List As outlined in the post,
the Bancor Network, a permissionless protocol that caters to
open-source DeFi protocols, has seen a notable rise in its network
metrics. This spans across high transaction volumes, active
addresses, network growth, whale transactions, exchange inflows,
and age destroyed (Consumed). This could be a predecessor to a rise
in the BNT price. Source: Santiment 2 – Cartesi (CTSI) The
application-specific rollups Cartesi network which features a Linux
runtime has also seen a rise in metrics similar to Bancor that
could signal a rise in its native CTSI token. This also spans “High
Transaction Volume, Active Addresses, Whale Transactions, Age
Destroyed (Consumed)” as pointed out in the post. Source: Santiment
3 – Holo (HOT) Holo (HOT) on the Holochain allows for Peer-To-Peer
(P2P) applications and has made it to this list mainly due to its
whale transactions. The Santiment post shows a rise in whale
accumulation among addresses holding between $100,000 and $1
million, as well as high whale transactions, exchange inflows, and
age destroyed (Consumed). Source: Santiment 4 – Powerpool (CVP) The
Powerpool (CVP) protocol is a governance-facing protocol that has
seen similar trends to Holo (HOT) above. Just like Holo, there has
been accumulation among whales holding $100,000 to $1 million.
“High Active Addresses, Network Growth, $100K-$1M Whale
Accumulation, Age Destroyed (Consumed),” the analyst writes.
Source: Santiment 5 – Storj (STORJ) The Storj (STORJ) project is
one that aims to provide cleaner storage services, allowing
organizations to cut down their carbon footprint as well as reduce
their cloud storage costs. But this under-the-radar altcoin has
made it into the list. The analyst points to “High Transaction
Volume, Active Addresses, Network Growth, Whale Accumulation, Age
Destroyed (Consumed)” as shown in the chart. Source: Santiment 6 –
UniLend (UFT) Unilend (UFT), a protocol that brings all
decentralized finance (DeFi) trading to offer in one place, making
them accessible through smart contracts, has seen a rise in
activity as well. Coming up as the 6th altcoin on the list,
Unilend’s growth spans “High Transaction Volume, Active Addresses,
Network Growth, Whale Transactions, $100K-$1M Whale Accumulation,
Exchange Inflow.” Source: Santiment Altcoins: Exercise Caution With
These Cryptos Although these assets have seen a lot of increase in
their network activities, the crypto analyst warns that “It appears
that 4 out of these 6 highlighted projects are likely getting hot
network activity BECAUSE of the price pump. For the other 2, there
are no guarantees that a pump is around the corner.” Related
Reading: These Bullish Factors Prove XRP Price Rally Is Not Over
Yet However, as always, crypto investors are urged to “make your
own assessments, research these and the many other projects that
show similar hot network activity on this model in weeks to come.”
Total market cap sitting at $1.045 trillion | Source: Crypto Total
Market Cap on Tradingview.com Featured image from Busha, chart from
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