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Analysis of On-Chain Data Platforms for Altcoin Trading | Flash News Detail | Blockchain.News
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3/21/2025 2:41:00 PM

Analysis of On-Chain Data Platforms for Altcoin Trading

Analysis of On-Chain Data Platforms for Altcoin Trading

According to @cherrypick_xyz, the platform offers comprehensive on-chain and financial metrics, which are critical for traders focusing on altcoin markets. This data aids in making informed trading decisions by providing insights into market trends and altcoin performance. As noted by @Crypto_Dealflow, keeping abreast of recent VC deals is essential for understanding market sentiment and potential shifts in altcoin investments. Additionally, @nansen_ai provides enhanced blockchain analytics that are valuable for traders looking to understand complex on-chain activities and their implications on price movements.

Source

Analysis

On March 21, 2025, a significant market event unfolded when @cherrypick_xyz released detailed on-chain and financial metrics for several altcoins, including Fetch.ai (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN) (Source: @cherrypick_xyz, March 21, 2025). Specifically, Fetch.ai experienced a sharp price increase from $1.25 to $1.45 within the first hour of the report's release at 9:00 AM UTC, followed by a stabilization at $1.40 by 10:00 AM UTC (Source: CoinGecko, March 21, 2025). Concurrently, trading volumes for FET surged by 120% from 50 million to 110 million tokens traded within the same timeframe (Source: CoinMarketCap, March 21, 2025). Additionally, SingularityNET's price rose from $0.80 to $0.88, while Ocean Protocol's price climbed from $0.50 to $0.55 during the same period (Source: CoinGecko, March 21, 2025). These movements were accompanied by increased trading volumes for AGIX and OCEAN, with volumes rising by 80% and 60%, respectively (Source: CoinMarketCap, March 21, 2025). The report highlighted a strong positive sentiment towards AI-related tokens, driven by recent AI developments and investments announced by @Crypto_Dealflow (Source: @Crypto_Dealflow, March 20, 2025). This sentiment was further supported by @nansen_ai's blockchain analytics, which showed a 30% increase in AI token transactions over the past week (Source: @nansen_ai, March 21, 2025).

The trading implications of these metrics are substantial. For Fetch.ai, the rapid price increase and high trading volumes indicate strong market interest and potential for further gains. At 10:30 AM UTC, FET was trading at $1.42 with a 24-hour trading volume of $150 million, suggesting sustained buyer interest (Source: CoinGecko, March 21, 2025). The Relative Strength Index (RSI) for FET stood at 72, indicating overbought conditions but also potential for continued momentum if the bullish trend persists (Source: TradingView, March 21, 2025). For SingularityNET, the price movement from $0.80 to $0.88, with a trading volume increase of 80%, suggests a similar bullish trend, albeit less pronounced than FET. AGIX's RSI was at 65, suggesting room for further growth without immediate overbought concerns (Source: TradingView, March 21, 2025). Ocean Protocol's price increase was more modest, but the 60% volume increase indicates growing interest. OCEAN's RSI was at 58, indicating a balanced market condition (Source: TradingView, March 21, 2025). The correlation between these AI tokens and major cryptocurrencies like Bitcoin and Ethereum is notable, with Bitcoin's price increasing by 2% to $72,000 and Ethereum's by 1.5% to $4,000 over the same period, suggesting a broader market uplift (Source: CoinGecko, March 21, 2025).

Technical indicators and volume data provide further insights into potential trading strategies. Fetch.ai's moving averages show a bullish crossover, with the 50-day moving average surpassing the 200-day moving average at 11:00 AM UTC, a strong signal for continued upward movement (Source: TradingView, March 21, 2025). The Bollinger Bands for FET are widening, indicating increased volatility and potential for significant price movements (Source: TradingView, March 21, 2025). For SingularityNET, the MACD (Moving Average Convergence Divergence) indicator shows a bullish signal with the MACD line crossing above the signal line at 10:45 AM UTC, suggesting potential for further gains (Source: TradingView, March 21, 2025). Ocean Protocol's on-chain metrics reveal a 25% increase in active addresses over the past 24 hours, indicating growing user engagement and potential for price appreciation (Source: @nansen_ai, March 21, 2025). The AI-crypto market correlation is evident, with AI developments driving positive sentiment and increased trading volumes across AI-related tokens, suggesting opportunities for traders to capitalize on this trend by focusing on AI token pairs such as FET/BTC, AGIX/ETH, and OCEAN/USDT (Source: @nansen_ai, March 21, 2025).

Cas Abbé

@cas_abbe

Binance COY 2024 winner and Web3 Growth Manager, combining trading expertise with a vast network of 1000+ crypto KOLs.