Crypto analytics firm Santiment has issued a new update to its Whale Holders Distribution model, highlighting three altcoins which large-cap investors are targeting.
According to the latest report by Santiment, first reported on by Daily Hodl, whale investors are accumulating Yearn.Finance (YFI). The firm noted an uptick in wallet addresses holding 100+ $YFI, climbing from 64 to 68 over the first week of March.
Santiment also found whales were targeting the gaming protocol Enjin Coin (ENJ), with interest climbing significantly. Santiment found ENJ holders with more than 1 million tokens jumped to 91, up from 84 the previous week.
The analytics firm documented a similar finding with Crypto.com’s native token (CRO). According to the firm wallets holding more than 10,000 CRO increased from 2,521 to 2,591 over the same timespan.
In addition to reporting whale accumulation for the aforementioned coins, Santiment published a list of altcoins that had witnessed a retraction in accumulation addresses.
The firm found Matic (MATIC) had dropped from 32 to 30 whale addresses, while Decentraland (MANA) had fallen from 562 to 551. Raiden (RDN) also saw a dip in large-cap wallets, falling from 51 to 45 over the last week.
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