Santiment: Whale Activity Suggests Price Uptick for INJ, MATIC, RENDER
Whales INJ, MATIC, and RENDER are moving their tokens to cold storage.
Data from Santiment shows that altcoins are bullish in the short and long term.
While INJ and RENDER have seen significant gains this cycle, MATIC has yet to catch up.
Injective (INJ), Polygon (MATIC), and Render (RENDER) are showing promising signs for short- and long-term growth, according to blockchain analytics platform Santiment. The platform noted that whale wallets are moving their holdings of these altcoins from exchange wallets to cold storage, pointing to a bullish outlook.
Santiment highlighted on X (formerly Twitter) that INJ, MATIC, and RENDER are âamong several that saw significant price anomalies after whale exchange wallet supply suddenly shifted to whale cold wallet supply.â These price fluctuations, they noted, present âfantasticâ opportunities for both short-term and long-term traders.
A chart shared by Santiment illustrated this trend. INJ whales began a substantial transfer of tokens to cold storage on August 21, 2023, and have continued to do so gradually. Similarly, RENDER whales moved a significant amount of tokens to cold wallets on July 21. In SeptemberâŠ
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