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BNB, AXS, XMR, and Major Altcoins Prices Could Spike Soon, Santiment Claims -Breaking

by Mike Robinson

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© Reuters. BNB and AXS prices could rise soon. Santiment Claims
  • According to Santiment, major altcoins such as BNB, AXS and XMR may see a rapid rise in their prices.
  • In the form of predictions, the company stated its position.
  • Santiment is bullish on (BTC) in addition to altcoins.

According to Santiment, crypto intelligence company Santiment believes that prices for (BNB), AXS and Monero will rise in the coming days.

We’re seeing a notable rise in leveraged short positions across different #crypto assets currently. Average exchange funding rates are negative for altcoins such as ANKR, XEM, SIA, XMR, AXS, DGB, & BNB. This can result in major price increases if the shorts are liquidated.

The price rise will not only affect BNB and AXS, XMR, but also other altcoins such as XEM, Ankr or SC prices, which may increase. Santiment stated the above in an on-chain prediction, primarily for digital assets.

Santiment also suggested an analysis showing that altcoins could be subject to excessive short-selling. Santiment believes that Bitcoin (BTC) is on the rise.

In the midst of Bitcoin’s 10-week price retrace, its ratio of supply on exchanges has dropped to its lowest level since November 2018. BTC traders continue to move to cold wallets, indicating that the risk of another major selloff is lower.

The post also stated that BTC whales holding between 1,000 and 10,000 bitcoins had accumulated more than 40,000 coins just a few days before. Bitcoin’s price currently stands at $42k, with an estimated market capitalization exceeding $795billion on CoinMarketCap.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. The information contained in this article shouldn’t be taken as advice. CoinQuora advises its users to research cryptocurrency before making any investment.

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