HomeNewsAltcoinSantiment Analytics Firm: Litecoin and Other Altcoins Offering Potential Opportunities for Crypto Investors

Santiment Analytics Firm: Litecoin and Other Altcoins Offering Potential Opportunities for Crypto Investors

Santiment, a blockchain analytics platform, has identified five crypto assets that they believe could be presenting an opportunity for bullish investors. Litecoin, Serum, Radicle, VIDT Datalink, and Highstreet are all currently underbought, with most traders nursing losses. However, Santiment suggests that these assets could be bottoming out, meaning that there could be potential for growth in the near future.

While the prices of many altcoins are currently falling relative to Bitcoin and Ethereum, Santiment notes that Bitcoin’s supply sitting on exchanges is at its lowest level in 65 months. The low level of Bitcoin on exchanges is potentially bullish for BTC, as it indicates increased interest in self-custody and less potential for selling back to exchange wallets.

Santiment also points out that a Binance cold wallet has transferred over two billion dollars worth of Bitcoin out of its custody. This suggests that one of Bitcoin’s largest whale addresses is extremely active, and that Bitcoin’s supply on exchanges has dropped from 6.78% to 5.84%.

Clever Robot News Desk 11^th May 2023