These 5 Altcoins are the “Blue Chips” of the ERC-20 market, the report says!
The cryptocurrency market traded neutral on Thursday after a major drop, as emotions improved and fears of inflation scared global investors. Santiment, a digital asset analysis business, is looking for a series of altcoins to measure the strength of cryptography after the global market valuation fell 8% in less than a day.
Altcoins to the rescue?
Shiba Inu (SHIB), Uniswap (UNI), Yearn.Finance (YFI), Aave (AAVE) and Chainlink are among the “blue chips” in the ERC-20 market category, according to new research from Sentiment Insights (LINK ).
Santiment cites the SHIB meme currency as a favorable statistic when measuring the entry of cryptography into exchanges. People seem to have a lot of faith in their investments. Take, for example, SHIB.
A downward trend in SHIB deposits on exchanges indicates that traders are not worried about Shiba’s fall in value. They will not send tokens to sell them to exchanges.
Santiment also looks at Uniswap decentralized exchange (DEX) when it comes to exchanges and exchange flows. Three rising increases could mean people were looking for benefits just before the crash.
The company only sees a negative indicator of the YFI cryptographic performance optimizer in terms of active deposits. Santiment claims that four of the five altcoins avoided panic sales when it came to network losses and gains.
“It’s interesting to see how similar the picture is here: there are basically no panic sales except at YFI.”
The fourth sign is the age consumed, which is the period of time since a cryptographic asset was last moved. According to Santiment, long-term holders don’t seem to be changing their tokens on exchanges, which is a good sign.
There are no significant atypical values in any of the five tokens. “Most likely large and old bags have not been moved or sold. In the graphics, this appears to be the case.
Finally, the organization is investigating what whales are doing with cryptography worth between $ 500,000 and $ 50 million with their funds. Only Chainlink, a decentralized pricing service, has a downward trend.