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New data from on-chain analysis firm Santiment reveals substantial movements among major investors in an altcoin that has seen significant gains this year. Santiment notes that the tokenized artificial intelligence project Virtuals (VIRTUAL), among altcoins with a market capitalization of at least $500 million, has impressively recorded a 20,000% increase since the beginning of the year.
Performance of VIRTUAL
In a statement on social media platform X, Santiment highlighted VIRTUAL’s market capitalization and investor activity. VIRTUAL was trading at $2.74 at the time of writing, experiencing nearly a 20% increase within the day. On December 16, it peaked at $3.34, whereas a year ago, it was valued at around $0.013.
Furthermore, Santiment indicated that high-net-worth investors accumulated VIRTUAL and nine other cryptocurrencies during the recent downturn in the crypto market.
“Despite significant crypto corrections this week, we observe large whale transfers indicating potential bottom buying for several altcoins.” – Santiment
Other Notable Altcoins
Other noteworthy altcoins in the list include stablecoin issuer Usual (USUAL), its stablecoin Usual USD (USD0), decentralized prediction platform Gnosis (GNO), decentralized finance (DeFi) project Aave (AAVE), and meme coin Floki (FLOKI).
The recent drop in Bitcoin’s (BTC) market value has triggered a “buy the dip” impulse among investors. Santiment reported that as Bitcoin 
$103,151 fell to the $95,500 level, discussions focused on bottom buying reached their highest ratio in over eight months.
“As Bitcoin drops below $95,500 today, we see a surge in discussions about bottom buying, at the highest rate in over eight months. The last time we saw such enthusiasm for bottom buying was during the major crash on August 4, after which Bitcoin’s market cap rose by 81%.” – Santiment
As of the time of writing, Bitcoin was trading at around $97,006, experiencing a slight decline in the last 24 hours. Fluctuations in the crypto markets are prompting investors to adopt strategic moves. The high return potential in altcoins like VIRTUAL continues to attract major investors. Meanwhile, Bitcoin’s price volatility influences investor behavior across the market, providing critical insights into the future performance of various crypto assets.
