Crypto whales have helped hit a major high at all-time highs for an Ethereum (ETH)-based altcoin project, according to blockchain data from insights firm Santiment.
According to Santiment, the whales made profit at all-time highs when Rocketpool (RPL) broke above $61.
Rocketpool is a liquid staking protocol that allows Ethereum holders to stake their coins without having the 32 ETH normally required to become a validator.
Santiment says that RPL saw the second highest number of transactions exceeding $100,000 in the token’s history as it hit all-time highs.
“Rocketpool’s whales capped the cap perfectly, as they profited just after the asset’s all-time Hhgh at $61.87. The 70 transactions over $100,000 were the second largest after the 111 RPL transfers made on November 8, 2021 amid the all-time high of $59.47.”
Fountain: Sentiment/Twitter
At the time of writing, RPL has cooled off from its all-time high and is currently trading at $46.85.
Santiment also has insight into the recent memecoin craze which saw cryptocurrencies like PEPE, BABYDOGE and others explode last week. According to the analytics firm, the recent rise of keywords like Pepe, Babydoge, and Bobo on social media suggests that the crypto markets are ready to take a breather.
“Crypto markets often go up and down when meme keywords start to rise. And as the crypto markets have fallen in the past week, we have seen words like pepe, babydoge and bobo trending with high frequency. These social spikes are reliable signs of the best in the market.”
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Featured Image: Shutterstock/Tithi Luadthong/Natalia Siiatovskaia
source: dailyhodl.com