Capital is now circulating in a select group of smaller market cap altcoins after big-cap prices jumped in the first three weeks of January, according to data analytics provider Santiment. This is despite large-cap stocks such as Solana (SOL), Cardano (ADA) and Polkadot (DOT) producing impressive return headlines, says Santimento. These altcoins are Ribbon Finance (RBN), Smooth Love Potion (SLP) and Merlin (POND).
At the time of this writing, Ribbon Finance, a collection of decentralized finance (DeFi) protocols whose mission is to help customers access cryptocurrencies, was priced at $0.25. Last week, the value of the cryptocurrency ranked 194th by market capitalization increased by more than 27%.
$0.00343 in Smooth Love Potion tokens redeemable for prizes and monsters in the online battle game Axie Infinity (AXS). Last week, the market capitalization of the 228th-ranked cryptocurrency increased by more than 25%.
At the time of writing, the Merlin (POND) is available for $0.00979. Marlin is an open protocol that provides the backbone of the decentralized internet and his DeFi. The value of the cryptocurrency, currently ranked 320th, has increased by about 12.6% over the previous week.
Bitcoin saw the biggest transaction
According to Santiment, the two largest transactions in Bitcoin (BTC) since December took place on January 5th. This was just before the major cryptocurrency started its rally, rising from around $16,800 to $23,000 over the weekend. At the time of this writing, the price of BTC was $22,975 per coin.
“Bitcoin’s price jumped from $16.8k to $22.9k since January 5. Not coincidentally, the two biggest transactions on the $BTC network since December saw the price actually skyrocket. It happened on January 5th when it started.”