Check out which Altcoins could explode soon according to Santiment analysts

On Oct. 8, the on-chain analytics provider highlighted several crypto projects and altcoins that have seen big boosts in whale transactions in the past week compared to the previous week’s activity.

He added that currencies that have been falling in value and are suddenly seeing massive whale spikes “are prime candidates for the next bounces.”

Cronos (CRO) is the leader in whale activity for the week at 255%, he noted. However, CRO prices are down 7% over the past week, falling 2.7% on the day to $0.078.

When Altseason?

Santiment reported that the DeFi lending protocol Aave was also high for whale activity over the past week. But again, its native token AAVE is down 8% over the past week and is down 3.7% on the day, trading at $146, according to CoinGecko.

With this in mind, the spot price increases for these tokens may be delayed a bit.

Keep an eye out for the following crypto projects that have seen big boosts in whale transactions in the past week (compared to their whale activity the week before):

1) @cronos_chain $CRO +255%
2) @aave $AAVE (To Optimism) +100%
3) @ethena_labs $USDe +82%
4) @makerdao $DAI… pic.twitter.com/LvxNRJVZmF

— Santiment (@santimentfeed) October 7, 2024

Calls for another season continue to ring out on crypto social media as Bitcoin has failed to break through resistance several times over the past few months.

On October 8, crypto trader Laxman said this was unlikely to happen until BTC hit a new all-time high above $74,000 and its market dominance began to slip.

According to Tradingview, BTC’s dominance is currently just over 58%, near its highest level since April 2021.

However, ‘CryptoYoddha’ posted a chart on Tradingview showing an increase in the altcoin market cap, which could be a precursor to the high season.

#Altcoins

Good times ahead pic.twitter.com/4d71jY9VyW

— Yoddha (@CryptoYoddha) October 7, 2024

Crypto market outlook

While the altcoins Santiment highlighted today are moving in the wrong direction, some are bucking the market trend and making gains.

These include Sui (SUI), which rose 10% on the day to $2.10, just 3% off its March all-time high. SUI has gained 127% over the past month, driven primarily by the minting of memecoin degens on the network.

Fantom (FTM) is also doing well today, gaining 4% to close at $0.70, while Aptos (APT) and Tron (TRX) are also in the green.

However, total market capitalization is down 2.8% on the day to $2.28 trillion at the time of writing, leaving most altcoins in the red, with biggest losses for Solana (SOL) , Dogecoin (DOGE) and Shiba Inu (SHIB).

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