Santiment Releases Report on Ethereum and Other Notable Altcoins
Santiment Analytics Hub has released a report on Ethereum and other prominent altcoins. The data shared indicates that a positive market movement has just occurred for bullish traders of these three cryptocurrencies.
A tweet posted earlier today by the mentioned data source reveals that the supply of SHIB, LINK, and ETH held by whales on cryptocurrency exchanges has significantly decreased since May 27. According to Santiment, the reduced supply of SHIB, ETH, and LINK is a bullish indicator.
The top ten wallets on these networks have seen their holdings decrease, with SHIB dropping by 2.4%, LINK by 2.9%, and ETH by 8.6%. Santiment’s analytics team confirmed that a decline in exchange supply is generally considered a “long-term bullish signal” for traders.
Shiba Inu Burn Transactions
The SHIB burn rate has surged by over 1000%. Over the past 24 hours, the burn rate of this popular cryptocurrency has increased by an impressive 1,460.86%. Seven burn transactions have been conducted so far, according to data shared by this wallet tracking tool. In total, the SHIB community has managed to eliminate 110,885,723 Shiba Inu meme coins. Nearly all of this amount was burned in a single transfer by an anonymous whale, where 100,000,000 SHIB were sent to an unspendable blockchain wallet permanently.
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