• Crypto investors are moving their gains from larger cap coins such as Cardano and Solana and investing in smaller cap coins.
• Santiment has reported a significant uptick in the address activities of these smaller altcoins.
• Coins mentioned in the report include TRADE, RBN, SLP, PLSPAD, POND, MITX, MTH, and CBG.
The recent crypto market rally has been a boon for many digital assets, with altcoins benefitting just as much as bitcoin. Many assets have been able to return to their pre-FTX collapse levels, signaling the start of a bull run. With the market beginning to settle into this new normal, investors are taking advantage of possible price movement in smaller altcoins by cycling out money from larger cap coins.
On-chain data aggregation website Santiment has reported a significant uptick in the address activities of smaller cap coins, with investors moving their gains from the likes of Cardano and Solana into these assets. Most of these coins are top 200 and below tokens with market caps lower than $300 million.
The coins mentioned in the report include TRADE, RBN, SLP, PLSPAD, POND, MITX, MTH, and CBG. Most of these are coins flying under the radar, with Ribbon Finance (RBN) being the most prominent on the list. RBN is a decentralized finance (DeFi) protocol that focuses on offering yield optimization services.
Other coins mentioned in the report include TRADE, which is a decentralized trading protocol that allows users to trade tokenized assets; SLP, a platform for creating and launching tokenized assets; PLSPAD, a protocol for creating and managing tokenized assets on the Ethereum blockchain; and POND, a decentralized lending platform. There is also MITX, a platform for tokenizing real-world assets; MTH, a platform for launching and managing digital assets; and CBG, a blockchain-based gaming platform.
This rotation of funds from larger cap coins to smaller altcoins is a sign that investors are looking to take advantage of possible price movement in these assets. With many of these coins still flying under the radar, now may be the perfect time to get in early and benefit from the potential gains.