According to Santimente, large Cardano (ADA) holders have more than doubled their stock in just 10 days. Crypto analytics firm Santiment says there are some under-the-radar bullish fundamentals developing behind the scenes for popular altcoin project Cardano (ADA). Detail cryptocoin.com‘in.
Stocking up from this altcoin project
According to the firm, deep-pocketed Cardano holders abruptly doubled their investment while ADA was trading near the $1 mark, adding over 113% more cryptocurrencies to their stacks. Cardano’s price, like many altcoins, has dropped by -34% over the past 10 days. However, major addresses holding between $10,000 and $1 million in ADA have an 113% higher stake in their collective purse since the January 17 crash, accumulating $53.6 million in tokens. Santiment said that the second-largest crypto asset by market cap maintains a steady uptrend at active addresses. Santimet says:
Ethereum regained the $2,550 level to end the week. Bitcoin ends the week with a nice print on its own. While the active address of ETH remains stable, the top two crypto assets by market cap should maintain fixed prices if the utility continues to increase.
Santiment is also examining the decentralized oracle platform Chainlink (LINK). The firm says weak LINK holders were kicked out during the recent market correction and the FUD (fear, uncertainty and doubt) likely peaked. Santiment says:
Chainlink’s price was halved between January 10 and January 24. The crowd, predictably, was rather negative towards the popular Ethereum-based asset. Today, with FUD appearing at its peak, LINK has rebounded modestly +7% over the last four hours.
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