Coin

<ul class="news-points"> 
 <li>Santiment data shows that the average altcoin wallet has witnessed massive profits.</li> 
 <li>Santiment cautioned investors regarding “overbought” signals.&nbsp;</li> 
 <li>Opening a new position in an altcoin is highly risky, Santiment said.</li> 
</ul> 
Santiment, a blockchain analytics firm, has pointed out in a recent X post that altcoin holders are sitting on massive unrealized gains after weeks of explosive price action to the upside for many cryptos.&nbsp;&nbsp; 
Apart from a few sluggish altcoins, the “vast majority” of crypto projects have provided significant gains to holders, stated Santiment in a <a href="https://twitter.com/santimentfeed/status/1759778868662350301" target="_blank" rel="nofollow">post</a> on social media platform X (previously known as Twitter) on February 20.&nbsp; 
The average wallet over a medium to long-term time period has seen “understandably high profits” from altcoins since the market turned green starting in mid-October 2023. However, the blockchain analytics platform also cautioned investors that its signals are now showing “overbought” levels.&nbsp; 
Santiment also<a href="https://twitter.com/santimentfeed/status/1759778871229161849" target="_blank" rel="nofollow"> suggested</a> that based on the market value to realized value (MVRV) metric, opening new positions in altcoins that are in the midst of a 4…
The post <a href="https://coinedition.com/altcoin-holders-sitting-on-massive-unrealized-gains-santiment-data/">Altcoin Holders Sitting on Massive Unrealized Gains: Santiment Data</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Altcoin Holders Sitting on Massive Unrealized Gains: Santiment Data

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