Leading analytics firm Santiment says the recent digital asset market uptick has been accompanied by a spike in crypto whale activity.

Santiment notes that whales on the Bitcoin (BTC), Ethereum (ETH), Cardano (ADA) and Chainlink (LINK) networks have all hit their highest activity levels in the past six months.

Explains the analytics firm,

“There may be a bit of profit-taking happening to end the week, but this doesn’t necessarily signal that tops are imminent.”

Source: Santiment/X

BTC is trading at $37,388 at time of writing. The top-ranked crypto asset is up by nearly 8% in the past seven days.

ETH, the second-largest crypto asset, is trading at $2,084 at time of writing and is up nearly 14% in the past week.

ADA is trading at $0.379 at time of writing. The ninth-ranked crypto asset by market cap is up by more than 16% in the past seven days.

LINK is trading at $15.43 at time of writing. The 12th-ranked crypto asset by market cap is up more than 35% in the past week.

Santiment also notes that Ethereum competitor Solana (SOL) is receiving a lot of attention online as the crypto asset prints an 18-month high.

“Discussion rates on SOL have again spiked, indicating the mainstream crowd recognizes the asset’s decoupling from other assets. Funding rates are high, but not in a ‘danger zone’ yet.”

Source: Santiment/X

SOL is trading at $56.59 at time of writing. The seventh-ranked crypto asset by market cap is up more than 43% this week.

Generated Image: Midjourney

The post Whale Activity Spikes on Bitcoin, Ethereum, Cardano, and Chainlink Networks: Crypto Analytics Firm Santiment appeared first on Crypto News Australia.

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Filed under: Bitcoin - @ November 12, 2023 1:22 am