Altcoins
Whales are rapidly accumulating these two altcoins
Altcoin Buzz Analyst took a look at his latest analysis and highlighted the huge whale demand for two altcoins and speculated a potential 130% increase for Cardano in the coming days. He stated that despite the recent decline in the cryptocurrency market, two altcoins are experiencing significant whale activity.
Altcoins Seeing Whale Activity
Lookonchain reported that a whale transferred 1.1 million Pendle tokens ($3.8 million) to Binance for sale, while also holding onto $3.5 million of Pendle. This whale’s activity suggests confidence in Pendle’s long-term value.
Chainlink is another altcoin that is attracting interest from whales. Cryptocurrency analyst Ali Martinez said that whales have accumulated 6.2 million LINK Tokens ($76.8 million) last week. Chainlink’s recent price decline appears to have prompted large holders to adopt a “buy the dip” strategy. Data from Santiment indicates that LINK’s 30-day MVRV is -11.1%, suggesting that the asset is undervalued and potentially ripe for a price surge.
Will Cardano surge 130x?
Cardano, known for its scientific and methodical approach, is preparing for a major upgrade: the upcoming Vasil hard fork. This upgrade marks the network’s entry into the Voltaire era. Could it lead to a 130% price increase? Historical trends suggest it is possible. ADA token saw a similar surge before its last major update in 2021.
Currently trading at $0.37, ADA has seen a 20% decline over the past month. However, market intelligence platform IntoTheBlock noted that ADA surged 130% ahead of its 2021 hard fork, rising from $1.35 to $3.10. The Vasil hard fork, which is expected to enhance Cardano’s smart contract capabilities and decentralized infrastructure, could potentially drive a similar surge.
Cardano founder Charles Hoskinson called this the most significant upgrade in the history of the network. If history repeats itself, the price of ADA could rise from $0.37 to around $0.80 in the coming days.
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