According to the crypto analytics firm Santiment, whales accumulate Aave (LEND), Ren (REN) and 0x (ZRX) at full speed.
Santiment uses a metric, known as whales, that examines the amount of tokens held by high-wealth investors. Santiment included the following sentences about the metric:
A few weeks ago, we published an article about the three ERC-20 tokens, showing the biggest accumulation trend by whales known as high-wealth investors. Since then, price movements have changed as follows: LEND + 130%, REN + 120%, ZRX + 10%. Good or bad, the cryptocurrency market still looks like the whale’s playground.
Slight Rise Expected in Bitcoin
Aave is an open source and unsigned protocol designed to make money markets possible. Ren provides inter-block liquidity for decentralized applications. ZRX is an open protocol designed to facilitate peer-to-peer transactions on the Ethereum blockchain.
Santiment, based on three of its popular metrics, marks a slight rise in short-term outlook on Bitcoin and a completely neutral Ethereum outlook in the near term. According to the market value, while the two top-ranking assets have had a somewhat stagnant month, Santiment says that some altcoins are beginning to depart from the largest cryptocurrencies:
“It is clear that both Bitcoin and Ethereum have been stagnant somewhat throughout June, however, the rest of the altcoins (especially defi projects) appear to have individual values.”