Crypto analysis platform Santiment, based on on-chain data, has signaled a potential rally for an Ethereum (ETH) based altcoin, Illuvium (ILV). 
<h2 style="text-align: justify;" id="bullish-alert-for-illuvium">Bullish Alert for Illuvium</h2>
Brian Quinlivan, Marketing Director at Santiment, stated that interoperable blockchain game Illuvium gave a potential bullish signal amidst a sharp rise in its on-chain transaction volume. Since July 2022, the largest whale transaction, totaling $14 million, occurred in the early hours of May 25th. According to Quinlivan, the increase in Illuvium&#8217;s on-chain transaction volume coincides with the potential bottoming of the token price of the interoperable blockchain game: 
<blockquote>
Illuvium has been falling rapidly since it rose above $106 in early February. Although it has now slipped below $47, there&#8217;s a concern that the supply on crypto exchanges has steadily increased since then, and is currently at 14.5%. You may notice the on-chain transaction volume for the ILV network rapidly increasing, as a result of this $14 million transaction, the highest in approximately the last 14 months. Considering it happened at what could be a reasonable price bottom, this could be a potential bullish signal.
</blockquote>
<img decoding="async" loading="lazy" class="aligncenter wp-image-80985 size-full" src="https://en.coin-turk.com/wp-content/uploads/2023/05/ilv.png" alt="" width="1378" height="840" srcset="https://en.coin-turk.com/wp-content/uploads/2023/05/ilv.png 1378w, https://en.coin-turk.com/wp-content/uploads/2023/05/ilv-279x170.png 279w, https://en.coin-turk.com/wp-content/uploads/2023/05/ilv-768x468.png 768w, https://en.coin-turk.com/wp-content/uploads/2023/05/ilv-1200x731.png 1200w" sizes="(max-width: 1378px) 100vw, 1378px" />
At the time of writing this article, Illuvium is trading at $46.90. 
<h2 style="text-align: justify;" id="8220-ldo-signals-strong-uptrend-8221">&#8220;LDO, Signals Strong Uptrend&#8221;</h2>
Following Illuvium, Quinlivan turned his attention to popular altcoin project <a href="https://en.coin-turk.com/lido-dao-ldo-surges-following-proposed-governance-strategy-for-increased-stakeholder-value/" target="_blank" rel="noopener" data-wpel-link="internal">Lido DAO </a>(LDO). He noted that the Ethereum-based liquid staking protocol, despite experiencing several large on-chain transactions this year, has a relatively low supply on exchanges for an altcoin: 
<blockquote>
Lido DAO witnessed a lot of activity on its network throughout 2023. However, this massive transfer from one self-custody wallet to another didn&#8217;t result in a significant increase in transaction volume. What we do know is that the supply of LDO on exchanges is slightly below 6%, which signals a relatively strong bullish indication for an altcoin.
</blockquote>
<img decoding="async" loading="lazy" class="aligncenter wp-image-80984 size-full" src="https://en.coin-turk.com/wp-content/uploads/2023/05/ldo.png" alt="" width="1958" height="982" srcset="https://en.coin-turk.com/wp-content/uploads/2023/05/ldo.png 1958w, https://en.coin-turk.com/wp-content/uploads/2023/05/ldo-300x150.png 300w, https://en.coin-turk.com/wp-content/uploads/2023/05/ldo-768x385.png 768w, https://en.coin-turk.com/wp-content/uploads/2023/05/ldo-1536x770.png 1536w, https://en.coin-turk.com/wp-content/uploads/2023/05/ldo-1200x602.png 1200w" sizes="(max-width: 1958px) 100vw, 1958px" />
LDO is trading at $2.01 at the time of writing. The post <a href="https://en.coin-turk.com/altcoin-illuvium-gears-up-for-potential-rally-according-to-crypto-analytics-firm-santiment/" data-wpel-link="internal">Altcoin Illuvium Gears Up For Potential Rally, According to Crypto Analytics Firm Santiment</a> first appeared on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.The post <a rel="nofollow" href="https://en.coin-turk.com/altcoin-illuvium-gears-up-for-potential-rally-according-to-crypto-analytics-firm-santiment/" data-wpel-link="internal">Altcoin Illuvium Gears Up For Potential Rally, According to Crypto Analytics Firm Santiment</a> appeared first on <a rel="nofollow" href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Altcoin Illuvium Gears Up For Potential Rally, According to Crypto Analytics Firm Santiment

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