Monitoring market sentiment in wallet_analysis
04/05/2024
We are discussing the effectiveness of wallet analysis in studying market sentiment.
Market sentiment is an indicator of asset distribution across wallets in specific cycles.
The peak of the bull cycle in altcoin capitalization in 2021 occurred on November 8th, reaching $1.13T.
What did wallets of major funds do after new historical highs in the altcoin market in 2021?
Studying the transaction history of an experienced market participant, Jump Capital, we see that on November 18th, 2021, VGX tokens were sent to the exchange for a total amount of $1.793M (Fig. 2).
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