Santiment analytics platform noted the rise of whale-level transactions for two polarizing altcoins.
Whales are at play for these 2 altcoins
When large transactions worth $100,000 or more on a network start to spike, this historically indicates upcoming price changes and should be watched closely. The meme token Shiba Inu recently saw a massive price increase and has gained more than 20% in just a few days. While some reversal signals, such as a bearish RSI divergence, follow the solid price increase, the increase in large trades on its network should not be ignored.
Cardano, on the other hand, is steadily making its way up but hasn’t quite gained the same attention as the Shiba Inu. Cardano has not seen the same level of excitement as its counterpart, despite the increase in large transactions on its network and the recently launched DJED stablecoin. However, the increase in whale-level transactions may indicate that Cardano will gain some momentum in the near future.
It is important to note that such large trades can also be a sign that large traders are making profits or making big moves in the market. As the crypto market recovery continues, it is important to keep an eye on these indicators and make informed decisions based on available information rather than following FOMO.
The rise of whale tiered transactions in Shiba Inu and Cardano should not be overlooked as it may indicate a potential shift in the market and investors should closely monitor movements in whale addresses, especially during key market periods. cryptocoin.com SHIB is trading at $0.0000146, while ADA is changing hands at $0.39.
Cardano’s solid growth
Smart contracts platform and cryptocurrency Cardano is on the rise with the launch of the new Djed stablecoin. The new addition to the Cardano ecosystem could be the key to unlocking a new level of growth for the asset.
Cardano has lacked a stable source of funding for years, but the launch of the Djed stablecoin could fundamentally change that. Stablecoin offers a new use case for Cardano, providing a steady stream of income and interest to the asset. This, in turn, can help increase the value of the platform, leading to a more robust performance in the market.
With the launch of the djed stablecoin, Cardano’s developers aim to provide a stable, decentralized alternative to traditional fiat-pegged stablecoins. The new addition to the platform is designed to be more stable, transparent and secure and offers a number of advantages for both investors and users.
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