Whale Activity Spikes in Tokenized AI Project Virtuals (VIRTUAL) as Whales Accumulate the Altcoin During Crypto Market Crash

New data from market intelligence firm Santiment reveals one altcoin that has seen massive gains this year is rife with whale activity.

Market intelligence firm Santiment is highlighting one altcoin that has seen massive gains this year and is now seeing a lot of whale activity.

In a new thread on the social media platform X, Santiment notes that among altcoins with at least a $500 million market cap, tokenized artificial intelligence (AI) project Virtuals (VIRTUAL) is one of the leaders in terms of whale activity.

The asset, which is up a staggering 20,000% year-to-date, has seen several large transactions involving at least 100,000 tokens, according to the market intelligence firm.

Santiment also points out that high-net-worth investors are making moves to accumulate 10 digital assets including VIRTUAL during the latest crypto market crash.

“Despite sizable crypto corrections this week, several altcoins are making very large whale transfers that are indicative of potential dip buys.”

Other notable altcoins on the list include stablecoin issuer Usual (USUAL) and its stablecoin Usual USD (USD0), decentralized betting platform Gnosis (GNO), decentralized finance (DeFi) project Aave (AAVE), as well as meme asset Floki (FLOKI).

VIRTUAL is trading at $2.74 at time of writing, a nearly 20% gain on the day. On December 16th, it peaked at $3.34 while a year ago, it was moving for about $0.013.

Bitcoin’s ‘buy the dip’ mentality returns as crypto’s latest crash wipes out $300B

Next, the market intelligence firm highlights the top crypto asset by market cap. According to Santiment, Bitcoin’s (BTC) latest drop to under $100,000 has caused a “buy the dip” mentality among investors.

“We’re seeing a rising enthusiasm for buying crypto dips, as a surprisingly high ratio of crypto-related discussions are mentioning ‘buying the dip.’

The last time we saw the crowd nearly this enthusiastic about dip buying was the major crash on August 4th. Since that time, Bitcoin’s market cap is +81%.”

After dropping to a low of $95,500 on Monday, BTC is trading at $97,006 at time of writing, showing a fractional decrease during the last 24 hours.