Ethereum (ETH) and top altcoins have undergone strong retracements from their summer highs.
Even still, investors remain bullish as they look out into the long run.
Santiment reports that whales have been investing heavily in Ethereum and some Ethereum-based altcoins.
These are Ren (REN), Chainlink (LINK), aelf (ELF), Kyber Network (KNC) and 0x (ZRX).
This was because DeFi coins rose faster than all the rest, meaning they were the first to drop when capital stopped flooding in from new investors. They also dropped the fastest as earlier investors were incentivized to dump their coins as fast as possible.
Even still, Ethereum-based altcoins remain in a bullish state as investors seek to look out in the long run and invest from that perspective.
Top blockchain analytics firm Santiment reports that whales have been investing heavily in Ethereum and some ETH-based altcoins. These include Ren (REN), Chainlink (LINK), aelf (ELF), Kyber Network (KNC) and 0x (ZRX).
source:
https://twitter.com/santimentfeed/status/1320791561001668612
It is likely that these investors are focusing on the long-term prospects of Ethereum’s DeFi space as opposed to the short-term reality.
Head of DTC Capital, Spencer Noon, reported recently that the important DeFi metrics continue to hit new all-time highs despite the price drops.
source:
https://twitter.com/spencernoon/status/1319383375698939907
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