Bitcoin, over the past week, has been nothing short of a snoozefest over the past week, as the ranging pattern between $33k to $36k has turned many traders' attention to altcoins as the more exciting option. And the increased volume and action being seen by many assets that had been pummeled just one month ago, are now showing encouraging signs once again.
Top whale holder numbers are decreasing for many of these surging assets, and this article will take a look at which assets are seeing whale accumulation, and which are seeing whales dumping their bags.
With your Sanbase PRO account, get our Whale Holders Distribution Model here.
Freely open it, go to File -> Make a Copy, then Download Sansheets, and plug in your API: https://docs.google.com/spreadsheets/d/1v41I4Kb1Fl6rwBwYIuCsmXqtQZw5I_fEbsjU7QsH_x0/view
⬆️ Increasing Number of Whale Address
Yearn Finance ($YFI)
⬇️ Decreasing Number of Whale Address
Kyber Network ($KNC)
We love to look at different ways to gauge which assets may be under the radar and ready to pump. At the time of this writing, altcoins are pumping hard against Bitcoin once again, just a few days after a market-wide dump that saw retracements all over the map.
For this list, we've put together five charts that show a rising gap between overall daily address activity (high orange lines are generally a good sign), and daily active deposits (low pink lines are generally a good sign).
Ethereum ($ETH) - #2 Market Cap Asset
Maker ($MKR) - #35 Market Cap Asset
Enjin Coin ($ENJ) - #57 Market Cap Asset
Decentraland ($MANA) - #59 Market Cap Asset
Basic Attention Token ($BAT) - #66 Market Cap Asset
Generally, we can look at how a token's supply on exchanges is looking in order to help see cues that an asset can safely grow without large selloffs. The best opportunities generally arise through assets with declining supply on exchanges. Here are the two best, as well as two worst looking options that we're seeing from this metric's standpoint!