According to Santiment, a market analytics firm, three altcoins – Quant, Decentraland, and Enjin Coin – are showing promising signs for the future. Santiment notes that the supply of these coins on cryptocurrency exchanges is decreasing, which could potentially lead to positive price movements in 2023.
These three coins, which are based on interoperability blockchain, metaverse protocol, and Ethereum-based gaming blockchain, respectively, have seen significant amounts of coins leaving exchanges in 2022, despite their current downward price trends.
At the time of writing, Quant (QNT) is trading at $105.46, Decentraland (MANA) is valued at $0.292, and Enjin Coin (ENJ) is valued at $0.241. Santiment also reports that Bitcoin (BTC) has experienced a “sputtering” end to the year due to large investors aggressively selling the cryptocurrency throughout 2022. These deep-pocketed investors referred to as “whales” and “sharks,” have unloaded approximately $10.75 billion worth of Bitcoin in the past 12 months. This combined with a decrease in circulation has contributed to Bitcoin’s sluggish performance at the end of 2022.
Currently, Bitcoin is being traded for $16,518, experiencing a slight decrease over the past 24 hours.
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