Experts made this assumption based on data on the growth of the number of large transactions in these assets

​Santiment analysts predict the volatility of three altcoin rates

02.03.2023 - 10:35

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2 min

What’s new? Analysts at Santiment have pointed to a significant increase in the number of transactions by large investors (of over $100 000) in Fetch.ai (FET), Maker (MKR), and Cardano (ADA) tokens. For example, large transactions in FET are up 398% this year, while those in MKR and ADA are up 68% and 47%, respectively. This followed an increase in the exchange rates of these assets, with FET in particular up by 402,4% since January 1. According to experts, the activity of whales may be followed by price fluctuations of coins.

What is known about the assets? FET is the native token of Fetch.ai, a decentralized Ethereum blockchain-based trading platform that uses machine learning and artificial intelligence. FET is the main medium of exchange in the Fetch.ai ecosystem. As of March 2, the asset ranks 96th in the cryptocurrency ranking with a capitalization of $487,78 million and is trading at $0,4607, down by 1,54% in 24 hours, according to Binance.

ADA is the native token of the Cardano blockchain created by Input Output Hong Kong (IOHK) and Ethereum co-founder Charles Hoskinson. The token enables users to participate in the operation of the network. ADA ranks seventh in the cryptocurrency ranking and is trading at $0,352, down by 2,42% in 24 hours. The asset has a market capitalization of $12,38 billion.

MKR is the native coin of the MakerDAO protocol based on the Ethereum blockchain. Maker, a decentralized trading platform, provides lending and borrowing services for cryptocurrencies. MKR ranks 63rd in the ranking of cryptocurrencies by market capitalization with a figure of $589,6 million and is trading at $895 (+0,11%).

Previously, analysts at Santiment called four assets with high activity by large holders that are worth paying attention to. According to them, large transactions in ADA, Hex (HEX), Pax Dollar (USDP), and The Sandbox (SAND) are indicative of whale concern about crypto market volatility.

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