New data from on-chain analysis firm Santiment reveals that an altcoin that has made big gains this year is experiencing great investor activity. Among altcoins with a market cap of at least $500 million, tokenized AI project Virtuals (VIRTUAL) is up a staggering 20,000% year-to-date, Santiment noted.
Performance of VIRTUAL
In his statement on the social media platform X, Santiment emphasized that VIRTUAL stands out in terms of market value and investor mobility. VIRTUAL is trading at $2.74 at press time and has gained almost 20% on the day. It traded as high as $3.34 on December 16, while a year ago it was trading at around $0.013.
Santiment also noted that during the recent crypto market crash, investors with large holdings moved to accumulate 10 cryptocurrencies, including VIRTUAL.
“Despite significant crypto corrections this week, we are observing very large whale transfers indicating potential dip buying for several altcoins.” – Centiment
Other Important Altcoins
Other notable altcoins on the list include stablecoin issuer Usual (USUAL) and its stablecoin Usual USD (USD0), decentralized prediction platform Gnosis (GNO), decentralized finance (DeFi) project Aave (AAVE) and meme coin Floki (FLOKI).
Bitcoin, the largest cryptocurrency $96,907.4The recent decline in (BTC) market value has triggered a “buy the dip” impulse among investors. Santiment noted that as Bitcoin fell to $95,500 levels, the crypto debate on buying the dip reached its highest level in more than eight months.
“As Bitcoin falls below $95,500 today, we see crypto discussions focusing on buying the dip. It’s the first time the rate has been this high in more than eight months. The last time we saw this enthusiastic dip-buying crowd was the big crash on August 4th. Since then, Bitcoin’s market cap has increased by 81%.” – Centiment
Bitcoin is trading at $97,006 at the time of writing and has experienced a slight decline in the last 24 hours.
Fluctuations in crypto markets cause investors to turn to strategic moves. The high return potential in altcoins like VIRTUAL continues to attract the attention of major investors. On the other hand, fluctuations in Bitcoin’s price influence investor behavior across the market, providing important clues about the future performance of various crypto assets.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
