Whales are aggressively accumulating Aave (LEND), Ren (REN) and 0x (ZRX), according to crypto-analytics company Santiment.
Santiment uses an indicator that examines the amount of tokens held by top non-exchange holders known as whales.
The company commented,
“A few weeks ago, we published an article on the three ERC-20 coins, showing the biggest trend of accumulation by their top non-exchange holders, also known as whales. And their price action since then? LEND + 130%, REN + 120%, ZRX + 10%. For better or worse, the crypto is still a playground for whales. “
Aave is an open source unprotected protocol designed to enable money markets. Ren provides blockchain liquidity for decentralized applications. ZRX is an open protocol designed to optimize peer-to-peer transactions on the Ethereum blockchain.
Based on three of their popular indicators, Santiment has a slightly bullish / neutral short-term forecasts for Bitcoin purely neutral outlook for Ethereum in the near future. While the first two market capitalization assets went through a very inactive month, Santiment shows that some altcoins have begun to show separation from the largest cryptocurrencies.
The company said
“It’s pretty obvious that both Bitcoin and Etherium went into a lull in June, and so the rest of the altcoins (especially the DeFi projects) show which ones have individual values without the help of the top two market capitalization projects to pull them off. “