While the long-lasting bear market caused major declines in Bitcoin and altcoins, these negative effects are still relatively ongoing.
At this point, while altcoins face low liquidity problems, BTC continues to be on the radar of investors due to price volatility.
While this is the general situation in altcoins, Santiment said that some altcoins are giving a rise signal.
Stating that there is a remarkable trend in some altcoins, Santiment said that investors holding Sushi (SUSHI), Reef (REEF), Aelf (ELF), Biconomy (BICO), Curve DAO (CRV) and Injective (INJ) are lucky.
Santiment stated that although there are short-term uncertainties in the cryptocurrency market, these altcoins have been moved from exchanges to self-storage wallet addresses.
Stating that this situation is generally good for prices, Santiment said:
“If you own any of the SUSHI, REEF, ELF, BICO, CRV and INJ altcoins, then you are in luck.
Because these altcoins are withdrawn from exchanges and transferred to self-custodial wallet addresses.
“Historically, such big swings in stock markets are good for future prices.”
📉👍 If you are the owner of any $SUSHI, $REEF, $ELF, $BICO, $CRV, or $INJ, then you'll be happy to see that more & more of their supplies are moving into self custody. Historically, these kinds of major waves off exchanges are good for future prices. https://t.co/nS45eDkW1z pic.twitter.com/rhoGpfiosL
— Santiment (@santimentfeed) September 26, 2023
*This is not investment advice.