Altcoins
Whales Are Rapidly Accumulating These Two Altcoins
Analysts Buzz About Altcoins In his latest analysis, he drew attention to the high whale demand for two altcoins and speculated on a potential 130% surge for Cardano in the coming days. He said that despite the recent decline in the cryptocurrency market, two altcoins are seeing significant whale activity.
Altcoins are experiencing whale activity
Lookonchain reported that a whale transferred 1.1 million Pendle tokens ($3.8 million) to Binance for sale, while keeping $3.5 million worth of Pendle. This whale’s activity suggests confidence in Pendle’s long-term value.
Chainlink is another altcoin that is attracting interest from whales. Crypto analyst Ali Martinez said that whales have accumulated 6.2 million LINK Tokens ($76.8 million) last week. The recent drop in Chainlink’s price appears to have prompted large holders to adopt a “buy the dip” strategy. Data from Santiment indicates that LINK’s 30-day MVRV is -11.1%, suggesting that the asset is undervalued and potentially primed for a price increase.
Will Cardano Surge 130x?
Cardano, known for its scientific and methodical approach, is preparing for a crucial upgrade: the upcoming Vasil hard fork. This upgrade marks the network’s entry into the Voltaire era. Could this lead to a 130% price increase? Historical trends suggest that it is possible. ADA Token saw a similar increase before its last major update in 2021.
Currently trading at $0.37, ADA has seen a 20% decline over the past month. However, market intelligence platform IntoTheBlock noted that ADA surged 130% ahead of its 2021 hard fork, rising from $1.35 to $3.10. The Vasil hard fork, which is expected to improve Cardano’s smart contract capabilities and decentralized infrastructure, could potentially lead to a similar surge.
Cardano founder Charles Hoskinson called the upgrade the most significant in the network’s history. If history repeats itself, ADA’s price could surge from $0.37 to around $0.80 in the coming days.
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