Blockchain analytics firm Santiment is expressing bullish sentiment on seven crypto assets which are currently being heavily betted against.
Santiment says that layer-1 blockchain Solana (SOL), decentralized public network Hedera (HBAR) and privacy coin ZCash (ZEC) are some of the crypto assets that are set to rally amid heavy shorting.
According to Santiment, other altcoins that are set to rise amid heavy bets against them are decentralized network DigiByte (DGB), Internet of Things blockchain Helium (HNT), decentralized finance (DeFi) platform Kava (KAVA) and smart contract-enabled blockchain Kusama (KSM).
“Traders are aggressively shorting altcoins today, and some assets could be primed for short liquidations. Based on extreme bets being placed on prices going down, DGB, HBAR, HNT, KAVA, KSM, SOL, & ZEC would be candidates for small breakouts if altcoins get any momentum.”
Turning to Bitcoin (BTC), Santiment says that small to medium holders of the flagship crypto asset are aggressively accumulating.
“Small to mid-sized Bitcoin addresses (0.1 to 100 BTC) have been on one of their most aggressive accumulation cycles in history, adding 9% to their holdings in just the past 6 months.”
According to the analytics firm, Bitcoin’s small-to-medium holders are more successful in predicting long-term price movements than short-term ones.
“Overall, it seems that these investors tend to be correct over long-term periods, but may not always accurately predict short-term price movements.”
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix