Crypto Whales Are Massively Accumulating One Ethereum Scaling Altcoin, According to Analytics Firm Santiment – Lopoid Crypto News #Crypto #Whales #Massively #Accumulating #Ethereum #Scaling #Altcoin #Analytics #Firm #Santiment #Lopoid Crypto News Welcome to Lopoid
Crypto analytics agency Santiment says Ethereum (ETH)-scaling answer Polygon (MATIC) is now getting into the sixth week of whale and shark accumulation.
Santiment says whales holding between 10,000 and 10 million MATIC tokens have collectively elevated their holdings by practically 10% over the six weeks.
“MATIC sharks and whales have been in a pretty big accumulation trend for about six weeks. The tiers of holders ranging from 10,000 to 10 million coins held have collectively added 8.7% more to their bags in this timespan.”
A shark is a crypto asset investor or holder who holds between 500 to 1,000 of a digital asset whereas a whale holds over 1,000 of that asset.
Santiment additionally says Ethereum rival Solana (SOL) is currently a scorching matter on social media boards alongside Celsius Networks (CEL) amid excessive ranges of destructive sentiment within the crypto house.
“As we head into our final week of a shaky June, traders are doing their best to navigate the bear market. CEL and SOL are both seeing an increase in discussion, and the topic of cryptocurrency as a Ponzi schemes shows just how negative sentiment is.”
According to Santiment, “concerns” over Solana made it a top-ten trending matter on social media boards. Solana is susceptible to outages and simply this 12 months Solana has recorded 12 situations of downtime with three of them being main outages lasting greater than two hours every time.
Just this week a Solana-based lending platform, Solend (SNLD), put out a governance proposal in search of to seize the crypto belongings of a whale who was nearing liquidation ranges and probably thus placing the protocol in danger in addition to “putting strain on the Solana network.”
In the case of Celsius Network, the centralized finance platform final week halted withdrawals indefinitely, inflicting the CEL token to crash.
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