One Mid-Cap Ethereum and Solana Rival Is Flashing a Bullish Signal, According to Crypto Analytics Firm Santiment
A top-50 altcoin by market cap could be on the verge of an upside move, according to blockchain analytics platform Santiment.
The analytics platform says that the native token of smart contract-enabled blockchain Aptos (APT) could reach “another higher high” after partnering with software maker Microsoft on artificial intelligence (AI) and web3 projects.
“Aptos has decoupled after its partnership with Microsoft was announced to build AI tools for blockchain integrations. The crowd showed major FOMO (fear of missing out) but has calmed down. However, rising volume and developer activity may foreshadow another higher high.”
Aptos is trading at $7.12 at time of writing, up by over 7% in seven days.
Santiment also says that Shiba Inu (SHIB) is performing relatively better compared to other mid and low-cap altcoins as traders increasingly turn their attention to the second-largest memecoin.
“Prices are mildly up for altcoins today, but most mid and small caps are still struggling to gain any traction on the weekly time frame. Many traders have shifted their focus to Shiba Inu, as the memecoin is one of the few bright spots. SHIB is +19% with rising social volume.”
Shiba Inu is trading at $0.0000118 at time of writing, up over 12% in the last 24 hours.
Turning to Ethereum (ETH), Santiment says that the ten largest addresses of the second-largest crypto asset by market cap now hold more than a third of the supply.
“Ethereum has been seeing its top 10 addresses expand and accumulate more and more of the total available coin supply. In five years, the top 10 largest addresses have gone from owning 11.2% to now 34.6% of ETH. The 27.86 million ETH added is worth $51.6 billion.”
Ethereum is trading at $1,848 at time of writing.
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