Investors are massively shorting 1INCH, TRX, and XLM.
These tokens might skyrocket once the shorts are liquidated.
In the past seven days, 1INCH has outperformed TRX and XLM.
Read also: Altcoin Market Primed for September Breakout, Says Analyst
Blockchain analysis platform Santiment has pointed to investors who have shorted against 1Inch (1INCH), Tron (TRX), and Stellar (XLM), suggesting these altcoins could see a significant price jump once liquidations begin, should their valuations rise against these bets.
Through a post on X (formerly Twitter), Santiment explained how, contrary to the investors’ short positions, their prices will rise once liquidations start. The blockchain analytics firm added:
“When we see heavy bets against an asset, liquidations can occur which act as “rocket fuel” for the asset’s price to rise higher. Going against the crowd of doubters could pay dividends.”
Source: Santiment
A liquidation event is triggered once the price of an asset starts to move, not in the favor of the investors who have longed or shorted their assets. In such a scenario, the amount liquidated boosts the price of the asset further which could be…
The post Short Sellers Target XLM, 1INCH, TRX, But Risk Liquidations appeared first on Coin Edition.
