Profits from recent weeks being channeled into large and medium-sized assets; Find out which ones

A survey shared by the Santiment platform, on November 4, revealed the cryptocurrencies that have been seeing profits in recent weeks given the stagnation in the price of Bitcoin (BTC) below US$35,000.

According to the data, profits recorded in recent weeks continue to be channeled into large and medium-sized assets such as Status (SNT), Sushi (SUSHI) and Bluzelle (BLZ).

“Altcoins continue to make up for lost time. As Bitcoin continues below $35K, profits from recent weeks continue to be funneled into large and mid-cap assets such as $SNT (+108% in 7 days), $SUSHI (+82% in 7 days ) and $BLZ (+39% in 7 days)”.

🥳 #Altcoins are continuing to make up for lost time. As #Bitcoin continues resting just below $35K, profits from the past couple weeks continue funneling into large and mid cap assets like $SNT (+108% in 7 days), $SUSHI (+82% in 7 days), and $PAGE (+39% in 7 days). pic.twitter.com/vFookgr47m

— Santiment (@santimentfeed) November 4, 2023

In a shared review on November 2, Santiment also highlighted the peaks reached by Status (SNT) and Sushi (SUSHI). “Based on the most recent day’s #onchain activity, the assets showing the greatest number of spikes among key alpha metrics historically associated with #bullishness are $INJ, $SNT, $SUSHI, $ANKR, and $SLP.”

At the time of publication, the price of Status was quoted at US$0.063991, up 27.0% in the last 24 hours. Bluzelle, in turn, was trading at US$0.278157 with an increase of 2.2% in the last day.

At the time of publication, the price of Sushi was quoted at US$1.07, down 6.7% in the last 24 hours.

Bullish run in the coming days?

Santiment noted the SP500’s big week following the cooldown of the market’s biggest cryptocurrencies, Bitcoin and Ethereum (ETH). According to the analysis, next week will indicate whether cryptocurrencies remain linked to stocks or whether assets could prepare for a bull run soon.

“SP500 had a big week after Bitcoin and Ethereum cooled off. With each sector now having its ‘time in the sun’, next week will indicate whether crypto is still tied to #stocks or whether assets could be gearing up for a #bull run.”

📊 The #SP500 had a big week after #Bitcoin & #Ethereum have cooled down. With the sectors now each having their ‘time in the sun’, this next week will indicate whether #crypto is still tied to #equitiesor whether assets can prepare for a #bullrun. https://t.co/R9moWBoqCx pic.twitter.com/FNddr1T8PM

— Santiment (@santimentfeed) November 4, 2023

Disclaimer:

The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading cryptocurrencies carries a risk of financial loss.