Santiment Highlights Two Altcoins Worth Watching! “One Shows Bullish Signs, The Other Presents a Buying Opportunity!”
By Elif Azra Güven
11.06.2024 – 14:23
Update: 2 seconds ago
Amidst the overall decline in Bitcoin (BTC) and altcoins, certain altcoins are facing steeper drops due to negative developments. One such case is Loopring (LRC), an Ethereum (ETH)-based altcoin that recently suffered a $5 million exploit, leading to a significant decrease in its value. Despite the concerning situation, Santiment sees this as a potential buying opportunity for savvy investors.
Following a 22% drop in LRC over 4 days, Santiment noted the buying opportunity presented by the fear-induced decline in the token. The recent attack on Loopring’s network, resulting in a loss of over $5 million, has caused a decrease in market cap and eroded trust within the crypto community.
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. With a doubling in active addresses since June 4, coupled with the RSI entering the opportunity zone, analysts believe that LTC may be on the verge of a bounce.
As of the time of writing, LTC is trading at $78.8. Santiment’s analysis indicates that the surge in active addresses and the RSI trend could be indicative of a potential upward movement for LTC.
*Please note that this is not investment advice.
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