A crypto analyst from Santiment has identified six overlooked altcoins that may be due for a price surge. These altcoins were selected based on an increase in their network activity, including high transaction volumes, network growth, and large transaction numbers. While the analyst cautions that four of the six projects may be experiencing hot network activity due to a price pump, investors are encouraged to conduct their own research and assessments.

Crypto Analyst Uses Network Activity to Identify Altcoins

The Santiment crypto analyst, in a post, explained that the selected altcoins were chosen based on an uptick in their network activity. These altcoins have flown under the radar but have attracted attention due to their transaction volumes, network growth, whale transactions, and accumulation.

1 – Bancor (BNT) Tops the List

Bancor (BNT), a permissionless protocol catering to open-source DeFi protocols, has experienced a significant rise in its network metrics. Factors such as high transaction volumes, active addresses, network growth, whale transactions, exchange inflows, and age destroyed suggest a potential increase in the BNT price.

2 – Cartesi (CTSI)

The Cartesi network, known for its Linux runtime, has also seen a rise in similar metrics to Bancor. These include high transaction volumes, active addresses, whale transactions, and age destroyed, indicating a potential increase in the native CTSI token.

3 – Holo (HOT)

Holo (HOT) on the Holochain, which enables peer-to-peer applications, has made the list due to its whale transactions. The accumulation of whales holding between $100,000 and $1 million, along with high whale transactions, exchange inflows, and age destroyed, suggests potential growth.

4 – Powerpool (CVP)

The Powerpool (CVP) protocol, a governance-focused protocol, has witnessed trends similar to Holo. The accumulation among whales holding $100,000 to $1 million, along with high active addresses, network growth, and age destroyed, indicates potential price movement.

5 – Storj (STORJ)

Storj (STORJ), a project aiming to provide cleaner storage services, has made it onto the list. Factors such as high transaction volumes, active addresses, network growth, whale accumulation, and age destroyed point to potential growth for this altcoin.

6 – UniLend (UFT)

UniLend (UFT), a protocol offering decentralized finance trading, has also observed a rise in activity. Variables such as high transaction volumes, active addresses, network growth, whale transactions, whale accumulation, and exchange inflows suggest potential price movement for UniLend.

Altcoins: Exercise Caution with Cryptos

While these altcoins have seen increased network activity, the analyst warns that four out of the six projects may be experiencing this activity due to a price pump. Furthermore, there are no guarantees of an imminent pump for the other two projects. As always, investors are advised to conduct their own assessments and research before making any investment decisions.

Summary

A crypto analyst from Santiment has identified six overlooked altcoins that could potentially experience price surges. These altcoins were chosen based on an increase in their network activity, including transaction volumes, network growth, and large transactions. However, investors are cautioned to conduct their own research and assessments before making any investment decisions.

FAQ

What are altcoins?

Altcoins are alternative cryptocurrencies to Bitcoin. They are often referred to as alternative coins because they offer different features and functionalities compared to Bitcoin.

Why are altcoins overlooked by investors?

There are tens of thousands of altcoins in the market, making it challenging for investors to keep track of all of them. As a result, they may overlook potential investment opportunities.

How were these altcoins selected?

The six altcoins were selected based on an increase in their network activity, including transaction volumes, network growth, and large transactions.

Should I invest in these altcoins?

While these altcoins have shown increased network activity, it is important to conduct your own research and assessments before making any investment decisions. There are no guarantees of price surges for these altcoins.

What should I consider before investing in altcoins?

Before investing in altcoins, consider factors such as the project’s team, technology, use case, market demand, and overall market conditions. It is also important to diversify your investment portfolio and only invest what you can afford to lose.