Bitcoin (CRYPTO: BTC) has surpassed the $100,000 mark, triggering a bullish signal for altcoins, according to a crypto analytics firm. The firm has observed a notable increase in whale transactions for several altcoin projects, including the stablecoin Dai (DAI), issued by Maker.
What Happened: Santiment highlights that the surge in DAI transactions suggests investors might soon use these stablecoins to acquire altcoins.
Increased activity in stablecoins often signals that substantial funds are being prepared for swaps into altcoins linked to those stablecoins’ trading pairs.
📊 Among altcoins with $500M+ market caps, these are the projects with the largest increases in whale transactions this week: 🐳 1) @makerdao $DAI (BNB): …Full story available on Benzinga.com