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Crypto analysis platform Santiment has reported that Aptos, the native asset of the smart contract-enabled Blockchain Aptos, which is ranked in the top 50 by market capitalization, may be on the verge of a strong upward trend. The platform also revealed that Shiba Inu, the second-largest memecoin, could be on the brink of a rise.
Aptos Can Ignite a New Rally
Santiment believes that Aptos, the native asset of the smart contract-enabled Blockchain, could reach higher peaks after its partnership with Microsoft, a software producer in AI and web3 projects.
The platform stated in its rise analysis, “Aptos stood out from the others in the crypto market after the announcement of its collaboration with Microsoft to create AI tools for Blockchain integrations. The crowded market showed a great FOMO (fear of missing out), but since then, the price has stagnated. However, increasing volume and developer activity could be an indicator of a new rally.”
Investors Turn Their Attention to Shiba Inu
Highlighting that Shiba Inu, the second-largest memecoin after Aptos, has performed relatively better compared to other mid and small-cap altcoins, Santiment stated, “Prices are showing a slight increase for altcoins today, but most mid and small-cap ones are struggling to show strength in the weekly timeframe. As the memecoin narrative is one of the prominent interesting narratives in the market, many investors have shifted their attention to Shiba Inu. SHIB has risen by 19% so far, accompanied by increasing social volume.”
Finally, Santiment, interpreting Ethereum (ETH), the king of altcoins, pointed out that the top 10 wallet addresses holding the second-largest cryptocurrency by market capitalization now hold over a third of the supply, stating:
It is observed that the largest 10 wallet addresses in Ethereum are growing and accumulating more of the current ETH supply. While the top 10 wallet addresses held 11.2% of ETH five years ago, they now hold 34.6%. The added 27.86 million ETH corresponds to approximately $51.6 billion.
