Market intelligence platform Santiment has released a list of the top ten digital assets with a market cap of over $2 billion that witnessed the most significant whale activity compared to the previous week. Injective leads the pack with a 456% increase, while Optimism is in tenth place with a 59% increase.
The cryptocurrency market has been largely unpredictable and volatile. However, market intelligence platform Santiment reveals that whale activity has increased for some crypto projects.
Santiment highlights projects with greater whaling activity
đł Among cryptocurrencies with at least $2 billion in market cap, these are the projects that are seeing the biggest increases in whale activity compared to the previous week:
1) @injective $INJ đ„ +456% up2) @wrappedbtc $WBTC đ„ +421% up3) @shibainucoin $SHIB đ„ +360% up4) @makerdao $DAI⊠pic.twitter.com/wagNpAgXEK
â Santiment (@santimentfeed) September 30, 2024
A recent analysis by Santiment reveals a list of ten crypto projects that appear to be the main beneficiaries of whale activity. Injective (INJ) tops the list and leads the pack with a 456% increase. The crypto asset has a market cap of $2.4 billion. The assetâs price has witnessed an increase of 8.07% 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% increase. Despite appearing on Santimentâs list, Wrapped BTC is down 1.33% in the last 24 hours.
Wrapped BTC is a tokenized version 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 up 26.78% in the last seven days. Shiba Inu has a market cap of $10.7 billion.
MakerDaoâs DAI claims the fourth spot with a 147% increase. The digital asset is a stablecoin offered by Maker Protocol and MakerDAO. The stablecoin has a market cap of $5.3 billion and is pegged to the US dollar at a 1:1 ratio.
PEPE maintains fifth position with a 109% increase, followed by Tether with a 74% gain
Pepe (PEPE) comes in fifth with a 109% increase and a market cap of $4.5 billion. Pepeâs price is down 4.29% in the last 24 hours but up 35.70% in the last seven days. Tetherâs USDT stablecoin follows in second place with a 74% increase and a market cap of $119.6 billion.
Ethena Labsâ stablecoin USDe, Dogecoin (DOGE) and Wrapped Ether (WeETH) claim the seventh, eighth and ninth positions, respectively, with increases of 67%, 67% and 62%. USDe has a market cap of $2.5 billion.
On the other hand, DOGEâs price has fallen by 3.80% in the last 24 hours but has risen by 9.30% in the last seven days. Dogecoinâs market cap is $17 billion. Optimism (OP) came in last on Santimentâs list with a 59% increase. The digital assetâs market cap is $2.8 billion, and its price has risen by 9.17% in the last seven days.
The news comes after Santiment announced on September 29 that crowd sentiment towards Bitcoin is bullish. According to Santimentâs social analytics, every bearish post about BTC had an average of 1.8 bullish posts.
