Traders Should Keep an Eye on One Little-Known Ethereum-Based Altcoin, Says Crypto Analytics Firm Santiment Heres Why

Blockchain insights platform Santiment points to anomalies recorded in one crypto asset that has gone unnoticed after recently rising to the top local spot.

Santimento To tell Optimism (OP), a scaling solution for Ethereum (ETH), has recorded a price increase just as trading volumes for Tether (USDT) and US Dollar Coin (USDC) on Layer 2 blockchains surged.

Optimists have confirmed that transaction volumes for stablecoins on the blockchain have surged significantly just as OP reached local top last week.

According to Santiment, trading volumes for USDT and USDC are gain There was a difference of over 99,000% in optimism in the unexplained circumstances of the time.

The average trading volume of USDT or USDC on Optimism is less than $10 million. Both of the above anomalies have surged to over $1 billion.

Liquidity mining? wash trading?

According to Santiment, on the day Optimism experienced an anomalous increase in stablecoin trading volume, it detected no anomalies in the number of active addresses, although token speeds were very high.

“The speed of the day was very fast.

Active Addresses? Active Addresses are normal and healthy trends.

Token velocity is the average number of times a crypto asset changes over a period of time.

According to Santiment, Optimism’s trading volume anomaly was consistent with the scaling solution reaching local tops when paired with Bitcoin (BTC).

It also coincided with the OP price cap for BTC and the biggest bullishness of the crowd.

It’s probably related in some way, but I don’t know which is which. you are?

A lot is happening, so stay tuned for optimism. “

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