Ethereum-Based Altcoin Gains 150% in a Month to Continue Gathering Amid Rising Whale Activity: Santiment
Cryptocurrency analytics platform Santiment is showing a bullish bias on an Ethereum-based token that has surged to triple digits.
Santiment says that the utility token of the Socios.com sports fan engagement platform, Chiliz (CHZ), is set to continue to rally as whale activity around it reaches its highest level in the past year. five months.
“Chiliz has entered the top 40 crypto assets by market capitalization and is up +150% in price over the past four weeks. Whale trading hits the highest level in the network since March 29. Even if whales are taking profits, the CHZ rally could continue.”
Chiliz is trading at $0.245 at press time, up 12% over the past 24 hours. Turning to leading digital asset Bitcoin (BTC), Santiment says that the bearish sentiment engulfing the crypto market is leading to the leading digital asset being sold at a loss.
According to the market intelligence firm, the number of Bitcoin trades that lost money was twice as many as profitable this week.
“Bitcoin has been on a slump since briefly rallied back above $25,000 on Aug. 14. As traders turn their attention to Ethereum and altcoins, BTC transactions mostly take place with loss level. This is the lowest rate of return we have ever seen on record. "
Bitcoin is trading at $21,302 at press time. Then
Santiment shines on Ethereum (ETH). , the second-largest crypto asset by market capitalization is enjoying the top spot in terms of developer activity over a 30-day period.
Santiment says that Ethereum is ahead of its competitors , Cardano (ADA) and Polkadot (DOT), ranked second and third respectively in terms of development activity on the Github code repository.
“Ethereum currently has the highest 30-day rotating average of notable developer activity, according to our algorithm for tracking notable daily Github submissions.”
Ethereum is trading at $1,632 at press time, up 3.4% on the day.
Aug 25, 2022