Santiment Highlights Two Altcoins Worth Watching! One Shows Bullish Signs, While the Other Presents a Buying Opportunity!
In the midst of a general decline in Bitcoin (BTC) and other altcoins, certain altcoins are facing steeper drops due to negative developments. One such altcoin is Loopring (LRC), which is based on Ethereum (ETH) and recently fell victim to a $5 million exploit, causing a significant decrease in its value.
Despite the current challenges faced by LRC, Santiment believes that this sharp decline could actually present a buying opportunity for savvy investors looking to capitalize on the bottom. Amidst fear, uncertainty, and doubt (FUD) surrounding the 22% drop in LRC over four days, Santiment sees potential for growth and investment in the altcoin.
On the other hand, Litecoin (LTC) is showing positive signs according to Santiment. Referred to as digital silver, LTC has seen a notable increase in the number of unique and active addresses on its network. The analyst points out that the network activity has doubled since June 4, leading to the Relative Strength Index (RSI) entering the opportunity zone and indicating a bullish trend.
With approximately 704,000 unique addresses interacting on the Litecoin network in the past week, compared to an average of 345,000 in May, Santiment sees potential for a rebound in LTC’s value. As of the time of writing, LTC is trading at $78.8.
*Please note that this is not investment advice.
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