Prominent market analytics firm Santiment says that a trio of altcoins is showing healthy signs moving into 2023.
According to the crypto intelligence firm, interoperability blockchain Quant (QNT), metaverse protocol Decentraland (MANA) and Ethereum-based (ETH) gaming blockchain Enjin Coin (ENJ) may have bright futures ahead of them.
Santiment says there is a sharply diminishing supply of the three coins on crypto exchanges, which could bode well for price action this year.
“Quant, Decentraland, and Enjin are among the largest market cap assets that saw significant amounts of coins leaving exchanges in 2022. Though their respective prices are down big, as is the rest of crypto, these are good signs for a better 2023.”
QNT is trading for $105.46 at time of writing while MANA and ENJ are valued at $0.292 and $0.241, respectively.
Looking at Bitcoin (BTC), Santiment says it suffered a “sputtering” end to the year as whales and sharks aggressively sold the king crypto asset throughout 2022. The data reveal deep-pocketed investors unloaded $10.75 billion worth of Bitcoin in over 12 months.
“Since two weeks before the Nov. 2021 Bitcoin all-time high, shark and whale addresses holding 10 to 10,000 BTC have dumped a collective $10.75 billion. This drop, combined with circulation drying up, has led to a sputtering end to 2022.”
Bitcoin is changing hands for $16,518 at time of writing, a fractional dip during the last 24 hours.
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Featured Image: Shutterstock/Sergey Nivens/Nikelser Kate
