While the entire cryptocurrency market experiences a correction, major altcoins such as Ethereum have been hit hard. Within the last week alone, most of the top altcoins have been down by about 10-15%. However, Santiment analysis reveals that there are three altcoins – XRP, APT, and LINK, that can have more upside potential based on the developments that are taking place and the increasing institutional demand.
#XRP
XRP, Ripple’s native currency, has recorded high social media sentiment even though the currency price has been volatile lately. Bitwise’s filing for a spot XRP ETF has attracted investors. At the same time, the U.S. Securities and Exchange Commission (SEC) has filed an appeal to the Second Circuit Court after the earlier legal failure in the XRP lawsuit.
The SEC’s appeal saw XRP’s price plummet by 15%, slipping to $0.52 from previous trading levels on Thursday. However, there are a number of market participants who anticipate potential recovery. The optimism surrounding an “Uptober” rally could drive XRP beyond the $0.60 mark, especially with increased interest from traders.
#APTOS
Another altcoin that has raised interest in the market is Aptos (APT). Aptos Labs recently made a significant move by entering the Japanese Web3 market by acquiring HashPalette. The integration of the Palette blockchain, which is one of the most popular blockchains, allows Aptos to connect traditional development with the constantly developing Web3 ecosystem.
Furthermore, the Aptos blockchain has entered into a partnership with the U.S. Government Money Fund to bring in the Aptos blockchain for improved efficiency. This partnership is anticipated to increase network traffic, with analysts suggesting that APT may rise to $20 in the near future.
Chainlink
Chainlink (#LINK ) has also been on an upward trend in recent weeks mainly because of its partnership with SWIFT in an effort to integrate with TradFi more effectively. Through its Cross-Chain Interoperability Protocol, Chainlink has proven that it can integrate different blockchain networks and positions the company’s foundation as a leader in blockchain-fintech collaborations.
Santiment is optimistic about LINK as it fortifies its network and expands its collaborations. With the increasing popularity of blockchain in the financial sector, more and more institutions are likely to show interest in LINK’s solutions.

Despite the bearish sentiment surrounding the cryptocurrency market at the beginning of October, there are some analysts who think that this is a short-term buying opportunity. On Oct. 4, on-chain analytics firm Santiment noted that the search query for “Uptober” has been declining since the beginning of the month’s trading.
Traders who earlier were hoping to make profits in the current month have become bearish about the possibility of getting profits in October. However, instead of celebrating October, social media platforms are now FULL of memes and posts about the ‘Selltober’ and ‘Octobear’.
Despite this, Santiment’s founder, Maksim Balashevich, believes there could still be potential for a short-term recovery. “The fading Uptober excitement might allow for a bounce, though it’s uncertain if the larger downtrend is over,” Balashevich noted.


#santiment #altcoins

Altcoins have been catching the attention of cryptocurrency investors, with Santiment, a blockchain analytics platform, tweeting about several big transactions on their respective networks.

According to Santiment, MATIC and FET have seen transactions valued at over $40 million, which are among the biggest of the year for their respective networks.

MATIC, the native token of the Polygon network, has been gaining popularity among investors due to its lower transaction fees and faster processing times compared to Ethereum. FET, on the other hand, is the native token of Fetch.ai, a decentralized platform that utilizes machine learning and artificial intelligence for blockchain-based solutions.

@azcoinnews

Aside from MATIC and FET, Santiment also advised investors to watch out for several other altcoins, including MANA, DIA, IMX, and SAND, after their recent whale moves. These moves refer to large transactions made by big investors, or whales, which can signal potential price movements or significant developments in the project.

MANA, the native token of the virtual reality platform Decentraland, has been performing well in the market, with its price steadily increasing over the past few weeks. DIA, the native token of the decentralized data platform DIA, has also been showing promising signs, with its price up by over 60% in the past month.

IMX, the native token of the Immutable X platform, has also been making headlines recently, with its launch on the Ethereum mainnet and its integration with major NFT marketplace OpenSea. Meanwhile, SAND, the native token of the virtual gaming platform The Sandbox, has been gaining traction among gamers and investors due to its potential in the growing metaverse industry.

As with any investment, it’s essential to exercise caution and conduct thorough research before investing in altcoins. While whale moves can provide valuable insights into market sentiment, they don’t guarantee a positive outcome. However, the recent activity in altcoins signals a growing interest in the cryptocurrency market, with investors eyeing potential gains in promising projects.

#altcoins #santiment #IMX #SAND #azcoinnews

This article was republished from azcoinnews.com

Bitcoin looks to be trading on shaky ground going into the April monthly close, with the threat of a much deeper price pullback a strong possibility.

One of the things I first learned when trading Bitcoin was to look for clues of possible price moves by examining the Crypto Total Market Cap chart and indeed anything alluding to a pending move in altcoins.
Source: Tradingview.com

 Looking at the total Market Cap chart and the most obvious observation on the daily chart is the bearish triangle pattern breakout has held true over recent weeks.

According to this very apparent downward triangle breakout on the chart the broader crypto market could be in for much more downside over the coming days and weeks.
Source: Tradingview.com

The overall target of the bearish triangle breakout is $1.6 trillion, meaning that a further $500 billion of downside could be coming.

It is also noteworthy that bearish Momentum divergence also extends down towards the $1.6 trillion to add further weight to this theory.'
Source: Tradingview.com

And to conclude discussing the Crypto Total Market Cap we need to discuss the recent change on Biyond Vanguard on the weekly time frame.

Just recently, we have added Biyond Vanguard indicator to Tradingview for subscribers, and THIS means that Vanguard CAN be attached to many different cryptos and asset classes.

Aside from this new exciting development itself, the broader point is that the Crypto Total Market Cap is close to turning bearish on the weekly time frame for the first-time since October 2023.
Source: Tradingview.com

This bearish signal could have some major implications next week, and could mean that bearish momentum will start to pick up.

Without exception, once a Red candle has been generated other red candles follow so this is a very ominous sign.

Santiment's CEO Maksim Balashevich has stressed caution for Bitcoin investors post-halving and that crypto whales often start selling early, while smaller holders buy or hold. 
Source: Santiment.net

Balashevich also suggests that the cryptocurrency market may well be gearing up to resume the bull trend for the next 12-months after the latest correction ends.

His analysis aligns very well with Biyond Vanguard and also the triangle breakout for the Crypto Total Market Cap.

I'd suggest being very selective and careful when buying Bitcoin and other cryptos in the coming week or weeks, just incase a much-larger drop is iabout to unfold.

#TOTALMARKETCAP #VanguardCrypto #santiment