• Market intelligence platform Santiment has identified 6 low-cap altcoins with great potential to rally in the coming months.
• The coins identified include SushiSwap (SUSHI), Reef Chain (REEF), Aelf (ELF), Biconomy (BICO), Curve DAO (CRV), and Injective (INJ).

Crypto analytics firm Santiment has identified six Ethereum-based altcoins that could, based on historical patterns, rally. The coins highlighted have seen more and more of their supplies move into self-custody. These coins are decentralized exchanges SushiSwap (SUSHI),  decentralized finance platform Reef Finance (REEF) and delegated proof of stake blockchain Aelf (ELF), Injective Protocol (INJ), decentralized finance platform CurveDAO (CRV) and cross-chain protocol Biconomy (BICO). The above assets are falling on exchanges as the assets are moved into self-custody.

The crypto firm notes that the low-cap coins have witnessed the “biggest 2023 swaps from exchanges to cold wallets.” It explains that this major wave historically is good for prices in the future. It is regarded as a sign of long-term holding with no immediate or near-term plans to sell.

SushiSwap (SUSHI) is at the time of press exchanging for $ 0.583631 after a nearly 2 percent drop in the last 24 hours. In the last two years, the altcoin has lost nearly 97 percent of its value after reaching $23.38.

Reef Finance (REEF) is exchanging for $ 0.00131491 after gaining 1.4 percent in the last 24 hours. The digital asset marked an all-time high of $0.057460 two years ago, this means it has experienced a more than 97 percent drop in the last two years.

Aelf (ELF) is trading for $0.365175 after losing around 1.6 percent in the last 24 hours. The altcoin reached its all-time high about five years ago when it hit a record $2.60.

Injective Protocol (INJ) has lost nearly 3 percent in the last 24 hours to trade for $7 at the time of press. The coin reached its all-time high about two years ago after reaching $24.89.

CurveDAO (CRV) is exchanging for $0.517579 after a 1.4 percent drop in the last 24 hours. The altcoin marked its all-time high nearly three years ago when it reached $15.37.

Biconomy (BICO) has been one of the best-performing coins in the last 24 hours. The digital asset has gained more than 30 percent to trade for $0.273908. Despite this impressive performance, the coin is still a long way from its all-time high of $21.45 reached nearly two years ago.

In addition, the firm has highlighted Linear Finance (LINA) and the Ethereum-based virtual reality platform Decentraland (MANA), whose number of transactions by whales has hit a three-month high. The interest in whales is a positive sign that suggests an impending price breakout in the near future. The firm writes;

Linear and Decentraland have had fairly unassuming price performances in 2023. But they have highlighted an uptick in altcoin whale transactions that are showing on Santiment’s dashboards to start the week.

Adding to the altcoins’ bullish view, the platform says that the levels of Bitcoin (BTC) social dominance; discussion on social media platforms are at a three-month low. Investors are taking an interest in other digital assets. At the time of press, Bitcoin’s market dominance stands at 48.9 percent. Relatively stable, if it falls to 40 percent and below, this could usher in the return of the altseason.

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