On-chain analytics firm centimentnoted that it has recorded some whale activity in Cardano (ADA) and The Sandbox (SAND) assets.
centimeter, CardanoIt found that . Whale transactions are recorded as large transactions of $100,000 or more, according to the analytics firm.
Ignore the five-day anomaly gap in the data for Cardano. Take a look at what the entity has been up to since February. Clearly, a large increase indicates this level of interest from whales.
Cardano, one of the popular competitors of Ethereum, was trading at $ 0.39 at the time of the news. The 7th-ranked crypto asset by market cap has lost close to 3% in the last 24 hours, but has gained close to 3% on a monthly basis.
ADA is trading at an all-time high of $3.09, which is more than 87% lower than it reached in September 2021.
Santiment, a metaverse altcoin The Sandboxhas seen the third-largest increase in whale transactions in the past three months.
The analytics firm states that the increase in whale activity “raises the possibility of a short-term correction, at least,” as the price of the project’s local asset, SAND, is also rising.
Sandbox has had a pretty good time on its own. Not as much as the capacity Hex has. Yesterday, the third highest whale growth in the last 3 months was recorded. And it came as prices skyrocketed. This raises the possibility of at least a short-term correction.
SAND was trading at $0.783 at the time of writing. The 43rd-ranked crypto asset by market cap has lost more than 6% in the last 24 hours and more than 3.5% in the past month. SAND is trading more than 90% lower from its all-time high of $0.783, which it reached in November 2021.