Ripple and XRP have been making headlines a lot this year, with the San Francisco-based company boosting the whole XRP ecosystem, and also promoting the adoption of the digital asset XRP.
Whales accumulate XRP and LINK
Now, it seems that the latest data from crypto insights platform Santiment reveals that big money players are accumulating XRP and Chainlink (LINK) – more than that, it looks like there are also two other altcoins showing signs of strength.
The online publication the Daily Hodl noted that Santiment reported that whales have been buying up XRP since a month after the Covid-19 induced sell-off.
This whole move caused the number of wallets with a balance of at least 100,000 XRP to increase significantly.
#Ripple‘s whale count has spiked the past 6 months, with many in high-tier brackets of $XRP held. Since April, holders with:
🐳100K – 1M 👉 14,525 to 17,387 whales (+19.7%)
🐳1M – 10M 👉1,307 to 1,336 whales (+2.2%)
🐳10M+ 👉280 to 309 whales (+10.4%) https://t.co/sKRgaGhQ5j pic.twitter.com/0X9wDlpo92— Santiment (@santimentfeed) October 31, 2020
Someone commented: “Goes to show that they don’t need to pay a premium price to accumulate and hold big bags of xrp. All they need are people who continue to sell xrp below 50 cents. Why bid for high price when there are so many people who are willing to sell them for much lower?”
Another follower said: “Smart money…. Watch xrp outpace bitcoin over the next 12 months.”
Two digital assets worth keeping your eyes on
Santiment is also looking at Ren (REN) – a protocol that enables the transfer of crypto assets between blockchains.
📊 $REN is running, and its turnaround from its $0.232 bottom was foreshadowed perfectly by a 5.2M on-chain transaction volume spike about 11 hours ago. The $ETH-based #crypto asset still has plenty of ground to make up for its -19.3% drop this past week. https://t.co/DqCeeA47Wz pic.twitter.com/QjJxWOT1XN
— Santiment (@santimentfeed) October 30, 2020
And the second digital assets that’s of interest is YFI:
📈 It appears that $YFI is showing some signs of some bullish divergences, based on our research. An increase in whale activity is a good sign, and there appears to be an uptick in active addresses as well. Enjoy our deep dive on the popular #DeFi asset. https://t.co/ZsmLaWUtX5 pic.twitter.com/jk2eDtzXxw
— Santiment (@santimentfeed) October 30, 2020
This is the crypto space’s darling coin.