There are signs that the bull market is steadily returning, usually leading to noticeable increases in the value of altcoins. According to the blockchain analytics platform Santiment There are four specific crypto projects that deserve more attention at this point. These are Ethereum (ETH), Shiba Inu (SHIB), Fetch.ai (FET), and Dent (DENT).
Santiment bases its selection on observations of the behavior of the largest whales of certain cryptocurrencies in withdrawing their coins from exchanges. This is often seen as a bullish sign as the transfer of coins to personal wallets or cold storage is interpreted as a sign that investors plan to hold their coins for a longer period of time. This group of large owners appears to be preparing for a bull market.
In the past three months, the 10 largest exchange addresses holding Ethereum saw a 4.3% decline. The Shiba Inu also recorded a notable decline of 2.7% during the same period. Interestingly, Fetch.ai (FET) had the largest decline among exchanges, down 26.1%. DENT showed the smallest decline, with outflow reaching 1.5%. This decrease in coins on exchanges reduces liquidity, which can lead to less market volatility and potentially higher prices since there are fewer coins available for spot trading.
It looks like Fetch.ai is ready for further growth
According to prominent cryptocurrency analyst Rekt Capital, Fetch.ai, a project that combines artificial intelligence (AI) and blockchain technology, is poised for further price growth. The project recently showed an impressive 300% growth over a period of two months.
Rekt Capital expects that this upward trend will continue. Fetch.ai, which focuses on automating processes such as flight reservations, recently announced a partnership with SingularityNET. This cooperation is seen as an important factor contributing to the current positive market movements.
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