Money is now cycling to a handful of low-cap altcoins after large-caps saw a price bounce across the first three weeks of January, according to Santiment.
“With large caps like Solana, Cardano, & Polkadot drawing impressive return headlines the first 3 weeks of January, money now appears to be cycling to small caps. Active addresses are up big for CBG, MITX, MTH, TRADE, PLSPAD, RBN, SLP, & POND.”
Ribbon Finance, a suite of decentralized finance (DeFi) protocols that aim to help users access crypto-structured products, is trading at $0.261 at time of writing. The 194th-ranked crypto asset by market cap is up more than 29% in the past seven days.
Smooth Love Potion, a token used within the Axie Infinity (AXS) ecosystem to earn rewards and purchase creatures in the online battling game, is trading at $0.00288 at time of writing. The 240th-ranked crypto asset by market cap is up more than 9% in the past week.
Marlin, an open protocol offering network infrastructure for decentralized internet and DeFi, is trading at $0.00959 at time of writing. The 320th-ranked crypto asset by market cap is up nearly 12% in the past week.
In terms of large-cap assets, Santiment notes that Bitcoin’s (BTC) two largest transactions since December occurred on January 5th, right before the top crypto began a surge that took it from around $16,800 all the way to $23,000 this past weekend. BTC is trading at $22,652 at time of writing.
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Source: Daily HODL
Original Post: Several Low-Cap Altcoins Are Quietly Witnessing Major Inflows After Impressive Returns on Larger Crypto Assets: Santiment