Santiment, a crypto analytics firm, says investors in two of the largest altcoins by market cap now have divergent short-term prospects.
First, the firm has launched an Ethereum-based altcoin that powers a decentralized network that enables smart contracts to access real-world data. Chainlink (LINK) is analyzing.
According to Santiment, Chainlink whales have steadily increased their investment in the native token of the Oracle network, accumulating 17.1 million LINK tokens worth over $228.28 million in less than two weeks.
“The main whale addresses that Chainlink holds between 10,000 and 10 million LINK are 17.1 million since February 27 [LINK] accumulated. Considering the correlation between the holdings of these addresses in the rises and falls against BTC, this increase in their total holdings is quite encouraging.”
Chainlink is trading at $13.17 at the time of writing, down 0.4% in the last 24 hours.
Santiment, Ethereum competitor after Chainlink to Phantom (FTM) also takes a look.
The analytics platform says the trajectory of the native token of the smart contract-enabled blockchain “changed dramatically overnight.”
According to Santiment, the catalyst for this change was the complete departure of famed decentralized finance (DeFi) developer Andre Cronje from Phantom, where he was the technical advisor, and the community.
The analytics firm also develops Cronje’s yield farming platform. Yearn Finance (YFI) and a decentralized registration platform designed to match employers with technical professionals. Keep3r Network (KP3R) He points out that he is also working on projects such as
“With Andre Cronje leaving Phantom, the course of FTM has of course changed dramatically overnight. Also, YFI, KP3R and about 25 projects are no longer supported by them.”
More than two dozen apps and services associated with Cronje are expected to be shut down on April 3.
Cronje’s departure from Fantom and entirely from the crypto industry was announced earlier this week, causing major losses to projects like Yearn.Finance (YFI), Solidly (SOLID), Fantom (FTM). FTM has fallen by over 27 percent in the past seven days, while SOLID is one of the biggest losers with a huge drop of up to 70 percent. Trading at $1.22 at the time of writing, Phantom is trading down 65 percent from its all-time high reached in October 2021.
You can check the price movements here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.