Crypto Giants Boost Activity on Three Altcoins
Following the recent market-wide surge, the market intelligence platform Santiment recently posted some statistics on Twitter. Since the beginning of the year, a number of particular altcoins have continued to gain momentum.
AAVE Transactions Burn Up: Transactions Rise 1,100%
Whale activity has significantly increased on three altcoins, including Aave (AAVE), the 41st-largest crypto asset by market capitalization, according to crypto analytics company Santiment. It has reported a substantial increase in the number of transactions valued at over $100,000 for Aave (AAVE). According to the firm, the number of such transactions has risen by over 1,100% in the year to date.
One of the numerous initiatives that Aave has is the launch of the V3 cloud. Collins Wu, a crypto reporter, reports that the V3 upgrade would give the Aave protocol new capabilities like cross-chain asset functionalities, community contribution tools, and a gas optimization strategy that should lower prices by 20–25 percent.
Growth in Litecoin (LTC) Transactions
The whale activity on Litecoin (LTC), the fourteenth-largest digital asset by market capitalization, has also increased, according to Santiment. According to the firm, there has been a 75% increase in LTC transactions with a value of $100,000 or more since the year’s beginning.
Investors are paying attention to the next Litecoin (LTC) token halving in August 2023 because they expect big returns from the price surge that usually happens after a half event. The halving event will reduce by half the rate at which new Litecoin (LTC) coins are created, increasing the market’s demand for LTC.
Decentralized (MANA) Soar: Transactions Up by 871%
Meanwhile, whale activity has significantly increased in the decentralized virtual environment Decentraland (MANA). According to the business, the volume of transactions exceeding $100,000 increased by 871% over a three-week period.
According to a tweet from Decentraland, new profile choices and avatar features have been made available to users. At the time of writing, the price of MANA is $0.64. This is a 130% rise from the value it had in 2023.
