Strange things sometimes happen. REN is now acting in a way that reminds us of RARE and TRB.

A while ago, RARE and TRB were seen as "dead coins." Many traders were shorting them, expecting prices to fall further. But suddenly, both coins surged, surprising everyone. The reason? Market makers took advantage of crowded short trades, pushing prices up and triggering stop-loss orders.

Now, it looks like REN might be doing the same. We're seeing a big increase in on-chain volume, trading volume, and transaction volume:

These moves possibly suggesting that market makers could be at play again. Keep an eye and take care.

The events following a short period a depression have increased network activity quite impressively. See the chart layout below. Here's just one example, YFI:

There are differences. For instance, REN:

REN is not picking up so strong because of it's complicated financial situation.

UNI:

UNI experienced a strong growth before, when there was an NFT marketplace announced. But still, we can see it's growing strongly, even compared with NFT related pump.

Each token has it's own story. It's own specific story which makes the difference. But many have a common pattern, it's network activity increasing quite a lot.

We might follow up in few days with more detailed market overview, for now just seeing massively increased network activity on many tokens. Therefore, networks awake.

Chart layout: https://app.santiment.net/s/_Qz39fm9

Whale behavior tracking continues to be an effective method for traders to find spots where assets may be about to go on a price tear, or alternatively, a dump. Below, we've highlighted three projects with accumulating whales (in their key respective high stakeholder trading address size tiers), and three with dumping whales:

⬆️ Increasing Number of Whale Address

Skale ($SKL) - 1m to 10m SKL Address Holdings

Maker ($MKR) - 100 to 10k MKR Address Holdings

Ocean ($OCEAN) - 1m to 10m OCEAN Address Holdings

⬇️ Decreasing Number of Whale Address

Ren ($REN)

The Graph ($GRT)

Basic Attention Token ($BAT)

Disclaimer: The opinions expressed in the post are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security or investment product.

When volatility strikes, as it has in the negative direction over the past 3-4 days, many traders tend to display a phenomenon known as "freezing up". This behavior is exactly how it sounds - traders don't want to make a mistake and buy into a downswing or sell into an upswing.

However, whales of many altcoins tend to become much MORE active when prices begin to rollercoaster wildly as they have been as Bitcoin dipped to $53k this weekend.

Here are three assets we see with major whale numbers rising this past week, and conversely, falling:

⬆️ Increasing Number of Whale Address

Ethereum ($ETH)

Ren Protocol ($REN)

Band Protocol ($BAND)

⬇️ Decreasing Number of Whale Address

Celcius ($CEL)

Litecoin ($LTC)

Storj ($STORJ)

Ren had been one of the quieter altcoins for much of 2021, as far as major top 100 crypto projects are concerned. Even with prices rising rapidly, it was managing to fall down the market cap ranks as January was coming to a close. But a few metrics foreshadowed that it could push its way above $1.00 for the first time:

1M+ Token Holder Whales

Even though Ren's price was moving up as 2021 kicked off, it was mostly just following the path of other ERC-20 tokens. But right as January ended, the amount of 1m+ addresses spiked, indicating something was brewing.

Daily Active Addresses

The amount of unique addresses interacting on the REN network has climbed steadily. This was particularly true when things really spiked in mid/late January, and throughout the past couple weeks.

Network Growth

The amount of daily new REN addresses has been quite staggering. Particularly over the past 4 weeks.

Last week, we touched on some altcoins that we're currently whale watching, based on our data indicating that there are a growing number of holders of the respective assets that are qualifying as elite holders. This week, we're providing three examples of assets that have already seen massive growth thanks to these accumulations. We'll also look at three assets where their prices haven't reacted (yet) to the growth in their recent whale numbers.

And spoiler alert: many of the same tokens we covered last week are continuing to grow in whales the fastest!

Prices Already Pumping After Major Buyers

Matic Network (MATIC)

Ren Protocol (REN)

Band Protocol (BAND)

Prices Have Yet to React Despite Major Whale Accumulation

Yearn Finance (YFI)

Aave (AAVE)

0x (ZRX)

Disclaimer: The opinions expressed in the post are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security or investment product.

Live charts: LEND, REN, ZRX