A crypto analytics platform has identified two lesser-known altcoins that are showing bullish signals amidst growing fear, uncertainty, and doubt (FUD) surrounding digital assets.

New data from market intelligence firm Santiment reveals that low-cap altcoins like Balancer (BAL), a decentralized finance (DeFi) platform, and Chromia (CHR), a decentralized application builder, are poised for potential gains. This follows significant shorting activity on these assets, which could trigger liquidations and subsequent price increases.

“Altcoins with remarkably low funding rates are currently indicating an opportune moment to counteract prevailing FUD sentiments. Over the past 24 hours, Balancer, Chromia, and Celer have notably attracted heavy short positions on Binance, driving potential upturns through short liquidations.”

Balancer and Chromia are currently trading at $2.53 and $0.231 respectively, according to the latest data. Santiment attributes the recent surge in FUD discussions within the crypto markets to key events such as the security breach affecting the machine intelligence marketplace Bittensor (TAO) and Bitcoin (BTC) briefly dipping below the $60,000 mark.

“Fear is palpable as traders react to recent developments:
– Bittensor suffered a significant loss due to a security breach, resulting in an $8 million drain from TAO wallets.
– Bitcoin’s price momentarily fell below $60,000, intensifying concerns among traders who are considering selling off holdings preemptively.”

Santiment suggests that amidst this high level of FUD sentiment, there exists a strategic window for potential gains. Bitcoin and Bittensor are currently priced at $58,226 and $224 respectively.

Additionally, Santiment highlights that wallets of altcoin traders are currently showing negative balances. The analytics firm also identifies certain altcoins, including CHR, Highstreet (HIGH) – a metaverse gaming protocol, and Basic Attention Token (BAT) – a digital advertising blockchain, as being historically positioned in favorable buy zones.

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[Featured Image: Shutterstock/VAlex/Mingirov Yuriy]