According to crypto analytics firm Santiment, several altcoins have seen a spike in whale activity in recent days. The analytics firm said we should be wary of cryptocurrencies with high whale activity, arguing that this is a sign of upcoming price volatility.
Here are the altcoins with the most whale activity over the past seven days, according to Santiment's list, and the percentage increase in whale activity:
Chromia (CHR) â 800%
HarryPotterObamaSonic10Inu (BITCOIN) â 740%
Civic (CVC) â 588%
Cartesian (CTSI) â 550%
Chiliz (CHZ) â 333%
Flux (FLUX) â 275%
Virtua (TVK) â 200%
Dai (DAI) â 180%
Gomining (Gomining) â 157%
PAX Gold (PAXG) â 145%
Looking at whale movements, the analytics firm measured transfers worth more than $100,000 made by whales in the past seven days.
Looking at the last 30 days, the altcoin with the highest increase in whale activity is Virtua (TVK) at 1900%.
As we all know, the worldâs largest cryptocurrency, Bitcoin, has undergone a severe price drop today and has been forced to fall below $60,000. At the time of writing, it is trading at $59,720.