It’s been a week since the major crash in the cryptocurrency market. Following this decline, some investors are exiting the market, while others are searching for potential dips.
At this point, cryptocurrency analysis platform Santiment announced that there was exceptionally high and low activity in some altcoins.
At this point, Santiment noted that altcoins currently experiencing high on-chain volatility could be a great buy signal considering that almost all of the cryptocurrencies have been trending back over the past week.
Santiment analysts stated that, according to the shared table, altcoins shown in dark red are networks with high activity, while those in dark blue are networks with low activity.
Accordingly, the networks with the highest activity were ranked as follows:
- FTX Token (FTT)
- WAX
- PAX Gold
- Origintrail
- Synthetix
- Euler
- XYO
- YFI
- Status
- Bounce
The altcoins with the lowest activity were listed as follows:
- Multi Collateral DAI (On BNB)
- Nexus Mutual
- Rocketpool
- Lido DAO
- Maker
- Staked Ethereum
- MX Token
- Clearpool
- USDD
- Chromia
Lastly, when a token is hot (i.e., seeing high network activity), a recovery is likely. If its price is outperforming the market, a correction is very likely. However, if its price is underperforming (i.e., falling along with the rest of the market), this is a buy signal.
Conversely, if a token is cold, meaning it sees low network activity, it is likely to see the same direction.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/is-there-a-dip-buying-opportunity-in-cryptocurrencies-santiment-ranks-the-most-and-least-interested-altcoins/
