Market intelligence platform Santiment released a list of the top ten digital assets with a market cap of more than $2 billion that have witnessed the most significant whale activity compared to the week before. Injective leads the pack with a 456% rise, while optimism ranks tenth with a 59% rise.
The crypto market has been largely unpredictable and volatile. However, the market intelligence platform Santiment reveals that whale activity has increased for some crypto projects.
Santiment highlights projects with the most whale activity
🐳 Among cryptocurrencies with at least a $2B in market cap, these are the projects seeing the highest rises in whale activity compared to the week prior:
1) @injective $INJ 🥇 +456% Rise
2) @wrappedbtc $WBTC 🥈 +421% Rise
3) @shibainucoin $SHIB 🥉 +360% Rise
4) @makerdao $DAI… pic.twitter.com/wagNpAgXEK— Santiment (@santimentfeed) September 30, 2024
A recent analysis from Santiment reveals a list of ten crypto projects that seem to be the main beneficiaries of whale activity. Injective (INJ) tops the list and leads the pack with a 456% rise. The crypto asset has a market cap of $2.4 billion. The asset’s price has witnessed an 8.07% increase in the last 24 hours and 10.92% in the last 7 days, according to Coinmarketcap.
Wrapped BTC (WBTC) claims the second position with a 421% increase in whale activity, while Shiba Inu (SHIB) takes the third position with a 360% surge. Despite appearing on Santiment’s list, wrapped BTC is down 1.33% in the last 24 hours.
Wrapped BTC is a tokenized model of Bitcoin on the Ethereum blockchain with a market cap of $9.7 billion. On the other hand, Shiba Inu is down 2.17% but has surged by 26.78% in the last seven days. Shiba Inu has a market cap of $10.7 billion.
MakerDao’s DAI claims the fourth spot with a 147% rise. The digital asset is a stablecoin offered by the Maker Protocol and the MakerDAO. The stablecoin has a market cap of $5.3 billion and is pegged to the US dollar in a ratio of 1:1.
PEPE holds the fifth position with a 109% rise, as Tether follows with a 74% gain
Pepe (PEPE) comes in fifth with a 109% rise and has a market cap of $4.5 billion. Pepe’s price has dipped 4.29% in the last 24 hours but has surged by 35.70% in the last seven days. Tether’s stablecoin USDT follows in second position with a 74% rise and a market cap of $119.6 billion.
Ethena Labs’ stablecoin USDe, Dogecoin (DOGE), and Wrapped Ether (WeETH) claim the seventh, eighth, and ninth positions, respectively, with 67%, 67%, and 62% rises. USDe has a market cap of $2.5 billion.
On the other hand, DOGE’s price is down 3.80% in the last 24 hours but has surged 9.30% over the previous seven days. Dogecoin’s market cap stands at $17 billion. Optimism (OP) trailed last on Santiment’s list with a 59% rise. The digital asset’s market cap sits at $2.8 billion, and its price is up 9.17% in the last seven days.
The news comes after Santiment announced on 29th September that crowd sentiment towards Bitcoin is bullish. According to Santiment’s social analysis, every bearish post on BTC had an average of 1.8 bullish posts.
