Whales are actively accumulating three altcoins and selling two more, according to Crypto Analytics firm’s Santiment

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Crypto whales are actively accumulating three altcoins and selling two more, according to crypto analysis firm Santiment.

Santiment says tracking whales can be an effective method of determining which crypto assets look bullish or bearish.

The analytics company notes that the number of addresses of whales containing between 1 and 10 million Skale (SKL) has increased over the past week.

Source: Santiment

SKL is the native asset of Skale, a blockchain network that aims to enable developers to build and deliver decentralized chains compatible with Ethereum. SKL is trading at $ 0.28 at the time of writing and has fallen more than 10% in the past 24 hours.

The number of whale addresses between 100 and 10,000 Maker (MKR) also increased in the second half of November, according to Santiment.

Source: Santiment

Maker is a governance token that supports DAI, a stablecoin that is pegged one-to-one to the US dollar without any bank, government, or third party. MKR is trading at $ 2,683.35 at the time of writing and is down more than 9% on the day.

Santiment notes that the number of addresses of whales holding between 1 and 10 million Ocean Protocol (OCEAN) also increased in the second half of last month.

Source: Santiment

OCEAN is the native asset of the Ocean Protocol, a blockchain ecosystem that connects data providers and consumers. The crypto asset ranked 193rd by market cap is trading at $ 1.15 at the time of writing and has fallen nearly 9% in the past 24 hours.

On the other hand, Santiment notes that the number of addresses of whales containing between 1 and 10 million Ren (REN) has declined over the past week.

Source: Santiment

Ren is a platform that powers transactions between different blockchain platforms. It aims to facilitate user adoption and investment in decentralized finance (DeFi). REN is trading at $ 0.80 at the time of writing and is down more than 8% on the day.

The number of addresses of whales holding between 1 and 10 million GRT is also down in the past two weeks, according to the analysis company.

Source: Santiment

GRT is the native token of The Graph, a platform that indexes and organizes blockchain data. The crypto asset ranked 46th by market cap is trading at $ 0.79 at the time of writing and is down more than 9% on the day.

Santiment also notes that the number of addresses holding between 100 and 10,000 Basic Attention Token (BAT) has also decreased slightly. Although the analytics company calls these addresses “whales,” that appears to be a mistake, as BAT is only trading at $ 1.21 at the time of writing.

Source: Santiment

BAT is an Ethereum-based utility token. It powers the Brave anti-ad web browser, which focuses on protecting a user’s data by removing ads and ad trackers. The crypto asset ranked 84th by market cap is trading down 12.5% ​​in the past 24 hours.

You can read the full report here.

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