Three altcoins show price anomalies: what does it mean?

Altcoins such as Injective (INJ), Render (RENDER), and Polygon (MATIC) have caught the attention of experts due to unexpected price fluctuations. These anomalies occurred after major holders of these cryptocurrencies, commonly referred to as "whales," transferred their assets from exchange wallets to "cold" wallets for storage.

Typically, the transfer of large amounts of cryptocurrency from exchange wallets—where active trading occurs—to "cold" wallets, generally used for long-term storage, indicates preparations for significant price changes in these altcoins.

According to analysts at Santiment, this could be a noteworthy signal for both the short and long term. In other words, Injective (INJ), Render (RENDER), and Polygon (MATIC) may experience sharp increases or decreases in price. The market is currently volatile, especially with the anticipation of a potential interest rate reduction by the U.S. Federal Reserve on September 18.

Source: Santiment