Network data indicates a significant rise in large transactions in cryptocurrencies such as AAVE, ADA, and OP, which may suggest asset accumulation by large investors. This conclusion was drawn by analysts from the Santiment platform.
If market conditions remain stable, the activity of large holders may trigger an upward movement in these altcoins.
Increase in whale transaction activity
Santiment recorded a surge in transactions over $100,000 in the following cryptocurrencies:
Aave (AAVE) [Polygon]: +267%
HEX (HEX): +256%
OKB (OKB): +200%
Cardano (ADA): +193%
Optimism (OP): +140%
Trillioner (TLC): +133%
Bitcoin Cash (BCH): +128%
Curve Finance (CRV): +100%
BitDAO (BIT): +100%
GateToken (GT): +100%
Despite high whale activity, the overall market situation remains neutral.
Capital flow between altcoins
CryptoQuant CEO Ki Young Ju noted that the altcoin market is undergoing a 'zero-sum PvP game', where capital is simply moving between assets rather than being attracted from outside. As a result, the total market capitalization of altcoins remains below its historical peak.
According to the expert, only a small number of altcoins with real use cases will be able to withstand the current market cycle. So far, key indicators show consolidation and a lack of a clear trend.
Technical indicators: is a reversal possible?
The market capitalization of altcoins (excluding Bitcoin and Ethereum) currently stands at $825.83 billion, which is below the 20-day EMA ($852 billion) – an important resistance level.
The Relative Strength Index (RSI) is at 40.28, bringing altcoins closer to the oversold zone. If the RSI can rise above 50, it may signal a reversal and the start of an upward trend.