According to data analytics provider Santiment, after large caps saw a price bounce across the first three weeks of January, capital is now cycling to a select group of altcoins with small market capitalization. This is despite large caps such as Solana (SOL), Cardano (ADA), and Polkadot (DOT) generating impressive return headlines, says Santiment. These altcoins areRibbon Finance (RBN), Smooth Love Potion (SLP), and Marlin (POND).
At the time of this writing, the price of Ribbon Finance, which is a collection of decentralized finance (DeFi) protocols with the mission of assisting customers in gaining access to crypto-structured goods, was $0.25. Over the last week, the value of the cryptocurrency that is ranked 194th by market cap has increased by more than 27%.
The Smooth Love Potion token, which can be exchanged for awards and monsters in the online battle game Axie Infinity (AXS), is now going for $0.00343. Over the last week, the market capitalization of the cryptocurrency ranked number 228 increased by more than 25%.
At press time, one Marlin (POND) could be purchased for $0.00979. Marlin is an open protocol that provides the backbone for a decentralized internet and DeFi. The value of the cryptocurrency now ranked 320th has increased by roughly 12.6% during the previous week.
Bitcoin Saw the Largest Transactions
Santiment says the two biggest transactions that have taken place in Bitcoin (BTC) since December took place on January 5th. This was shortly before the leading cryptocurrency started a rise that has taken it from roughly $16,800 all the way up to $23,000 this past weekend. At the time of this writing, the price of BTC was $22,975 per coin.
“Since January 5th, the price of Bitcoin has jumped from $16.8k to $22.9k. Not so coincidentally, the two largest transactions on the $BTC network since December both occurred on January 5th, right when prices really began skyrocketing.”