A leading crypto analytics firm said that deep-pocketed whales are rapidly accumulating Cardano (ADA) and Litecoin (LTC).
Santiment says the popular altcoin Cardano is undervalued considering the whales’ accumulation movement. says.
As the chart below shows, sharks and whales (wallets with 100,000 to 10 million ADA) have been accumulating aggressively over the past six weeks.
According to Santiment, there is a discrepancy between the price of ADA and the holding volume, indicating a bullish sentiment.
“I see a divergence between price and whale activity. BULL. ADA’s sales are also declining. There are signs of burnout in vendors. With every major price drop, there is a decrease in loss-moving coins. BULL.”
According to Santiment, a volume difference on the daily chart could signal an upward move.
“We have come to the point of filling the volume gap. We can expect serious purchases from these levels. BULL.”
Santiment also analyzed Litecoin as a different altcoin. As we reported earlier, the crypto analysis firm found that the price ratio of the Bitcoin (BTC) alternative is still increasing against the leading asset. Bitcoin versus price ratio is the amount of Litecoin needed to buy one Bitcoin. This rate increase coincides with an increase in large owners and addresses.
“Litecoin’s price ratio against Bitcoin remains high since May. This date is also when big addresses started popping up at record rates. Since June 12, the LTC/BTC price ratio has increased by plus 130%.”
You can follow the current price action here.