Santiment, the company which analyzes cryptocurrencies, said in its latest statement that two distinct altcoins have been receiving a greater amount of publicity than others.
While Bitcoin struggles to overcome the $31,000 barrier mark, certain altcoins are experiencing a surge in transaction volume and price.
Two of the most popular altcoins at present are MATIC and BNB, according to cryptocurrency analysis firm Santiment.
MATIC, the native token of the Polygon network, has risen 6.6% in the last two days, hitting its highest level in a month.
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The price rise is related to a significant whale transaction which occurred 2 days ago. A whale transferred 3 million USDC from the Ethereum chain to Binance and 3.97 million MATICs worth $2.93 million from the Polygon chain.
After the latest waves of FUD on Binance, the price of BNB was down, however, while considering the past week, BNB is currently trading 1.54% higher.
Santiment suggests that the shift in trade volume from Bitcoin to altcoins is a sign that crypto investors are redistributing their profits.
With Bitcoin consolidating in a small range, investors may be seeking fresh opportunities and greater returns in the altcoin market. Santiment warns that this pattern may not last for very long because Bitcoin’s dominance and volatility are subject to change at any time.
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