According to the latest data from cryptocurrency market analysis firm Santiment, the prices of some small-cap altcoins may be on the rise.
Platform claims suggest that decentralized finance (DeFi) platform Balancer (BAL) and decentralized application creation platform Chromia (CHR) are both potential altcoins poised for potential gains.
This comes as traders shorting related assets face liquidation pressures:
In the crowd’s [fear, uncertainty, and doubt] FUD, low-capitalization altcoins represent excellent buying opportunities.
Over the past 24 hours, three assets heavily shorted on Binance were Balancer, Chromia, and Celer. Liquidation of short positions typically results in price increases.
Read more:
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Santiment also notes significant losses in altcoin traders’ wallets. Additionally, the analysis firm highlights “historically good buying areas,” including Chromia (CHR), gaming protocol Highstreet (HIGH), and digital advertising blockchain fundamental attention token (BAT).
According to mid-term average returns per wallet for nearly all altcoins, traders find themselves in a predicament. This @santimentfeed average value and Realized Value (MVRV) model indicate feasible entry points for BAT, CHR, and HIGH mathematically. Meanwhile, ENS, OM, and RSR are projects…
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-Santiment (@santimentfeed)
July 3, 2024
