Mid-Cap Layer-1 Altcoin Witnesses Surge in Whale Activity This Week: Crypto Analytics Firm Santiment
One mid-cap layer-1 altcoin recently saw a boost in whale activity, according to the crypto analytics firm Santiment. Santiment tracks the number of altcoin transactions worth more than $100,000, which it considers “whale transactions.” The firm subsequently identifies which altcoins clock the biggest percent changes in whale transactions week over week. This week, Fasttoken (FTN) topped Santiment’s list with a staggering 600% increase in whale transaction count (TC). FTN is the native token of the layer-1 Bahamut blockchain, which utilizes a unique consensus mechanism called Proof of Stake and Activity (PoSA). Explains the project’s whitepaper, “Proof-of-stake systems preach that the higher stake you have, the more ‘voting power’ you get. However, when considering a fair block creation reward distribution environment, it’s not fair to give the higher chance to the node that is simply ‘faster’ or ...