According to analytics firm Santiment, a handful of crypto assets are seeing a spike in interest on social media this week despite the price wars in the market.
Santiment notes that Ethereum (ETH), XRP, Cardano (ADA), Shiba Inu (SHIB), and Polygon (MATIC) have seen more discussion online over the past week, while most other crypto assets have seen less talk.
The analytics firm also says that social trends suggest there is disagreement among members of the crypto community over whether to buy the current price drop.
“The ‘buythedip’ birds are chirping after prices have faded. Last week, just before the CPI [consumer price index] reported a crash, traders boasted they bought the dip. Now there is legitimate polarization about whether to do it again. What a difference a week makes.”
Regarding whale activity, Santiment notes that big names are buying up decentralized lending and lending platform Aave (AAVE).
“Aave Key Whale addresses holding between 1,000 and 1 million AAVE in their wallets are 54.5% held. This is the highest amount ever held by these addresses. Still a relatively young asset, the key will be that this line improves even when founders and top exchange names (with 10 million or more AAVE) finally stop circulating their coins for active traders and circulation purposes.”
The analytics firm says whales are also targeting the decentralized oracle network Chainlink (LINK), whose addresses hold between 10,000 and 1 million LINK, boosting their supply by more than 3% of available coins over the past four months.
In addition, whales are creating 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 into mainstream retail.
Addresses holding between 100,000 and 10 million AMP have increased their total supply of crypto assets by more than 25% since early June.
According to Santiment, Whale holdings of Litecoin (LTC), fan engagement token Chiliz (CHZ) and enterprise solution OMG Network (OMG) are actively declining.
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