April 2, 2023

According to analytics firm Santiment, social media interest in a handful of crypto assets has surged despite market price woes this week.

mood notes Over the past week, Ethereum (ETH), XRP, Cardano (ADA), Shiba Inu (SHIB), and Polygon (MATIC) have seen more discussion online than most other cryptoassets.

Source: Santiment

The analyst firm also Say Social trends show that members of the crypto community are divided on whether to buy the current price drop.

“‘buythedip’ birds are chirping after prices fall. Last week, just before CPI [consumer price index] The crash was reported and traders boasted they had bought the dip. There is now reasonable polarization over whether to do it again. What a difference a week makes. “

In terms of whale activity, Santiment notes Large addresses are buying decentralized lending platform Aave (AAVE).

“Aave key whale addresses holding between 10 million and 1 million AAVE in their wallets have a holding rate of 54.5%. This is the highest amount ever held by these addresses. Still a relatively young asset, the key is that even if This line will also improve as founders and top exchange addresses (holding 10 million or more AAVE) eventually stop circulating their tokens for active traders and circulation purposes.”

Whales are also targeting decentralized oracle network Chainlink (LINK), with addresses holding 10,000 to 1 million LINK increasing the supply of available tokens by more than 3% over the past four months, the analytics firm said .

Additionally, whales are acquiring Amp (AMP), an Ethereum-based token used as collateral for transactions on the Flexa network. Flexa is a DeFi payment processing system that aims to bring cryptocurrency payments to mainstream retail.

Since the beginning of June, addresses holding 100,000 to 10 million AMPs have increased the total supply of their crypto assets by more than 25%.

According to Santiment, whale holdings of Litecoin (LTC), fan engagement token Chiliz (CHZ) and enterprise solution OMG Network (OMG) are actively decreasing.

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