Ethereum

Chainlink

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 <p>Crypto analytics platform Santiment says the token of an under-the-radar Ethereum (ETH) scaling solution has more upside potential even after recording triple-digit gains over the past couple of weeks.</p>
 <p>Santiment says that the Ethereum&nbsp;sidechain Skale Network (SKL) has more than tripled its market cap since mid-August amid an increase in the number of addresses.</p>
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 <p>According to Santiment, traders are taking short positions on Skale Network as they bet that prices will fall soon.</p>
 <p><i>“SKL could push up even further until traders stop expecting a retrace, as liquidated shorts often act as rocket fuel to propel values higher.”</i></p>
 <figure style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="css-9pa8cd" draggable="true" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/F_aPq9PbEAAbkfk?format=jpg&amp;name=small" alt="Image" width="680" height="426">
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   Source: Santiment/X
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 <p>SKL is trading at $0.0601, up by around 209% from a low of $0.0194 reached in mid-October.</p>
 <p>Next up is Ethereum. Santiment says that the second-largest crypto asset by market cap is witnessing a major increase in address activity.</p>
 <p>According to Santiment, Ethereum is flashing a “promising sign” as the rise in address activity is not accompanied by ETH moving to exchanges. Currently, around 8.24% of the Ethereum supply is sitting on exchanges, an all-time low, per the crypto analytics platform.</p>
 <figure style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="css-9pa8cd" draggable="true" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/F_Z4Zn6awAA_YLN?format=jpg&amp;name=small" alt="Image" width="680" height="425">
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   Source: Santiment/X
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 <p>Ethereum is trading at $2,013 at time of writing.</p>
 <p>Next up is the blockchain oracle Chainlink (LINK). Santiment says that Chainlink’s surge over the past couple of weeks was preceded by whales heavily accumulating the 12th-largest crypto asset by market cap.</p>
 <p><i>“Going back to October 17th when Chainlink was priced below $7.40, the 200 largest wallets suddenly added 40.18 million LINK. Starting 2 days later, the asset saw prices soar +125% in 25 days, and now sits at approximately $14.60. These wallets remain high ever since.”</i></p>
 <figure style="width: 100%" class="wp-caption aligncenter"><img loading="lazy" decoding="async" class="css-9pa8cd" draggable="true" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/F_bGXYxagAAEKay?format=jpg&amp;name=small" alt="Image" width="680" height="433">
  <figcaption class="wp-caption-text">
   Source: Santiment/X
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 <p>Chainlink is trading at $14.30 at time of writing.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/altcoin-that-s-up-200-in-three-months-could-push-up-even-further-says-analytics-firm-santiment-tbt71292.html">https://thebittimes.com/altcoin-that-s-up-200-in-three-months-could-push-up-even-further-says-analytics-firm-santiment-tbt71292.html</a></p>

Altcoin That’s Up 200% in Three Months Could Push Up Even Further, Says Analytics Firm Santiment

TheBitTimes

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