The post Whales Are Rapidly Accumulating These Two Altcoins appeared first on Coinpedia Fintech News
Analyst Altcoin Buzz took to his latest analysis and brought to attention major whale demand for two altcoins and speculated on a potential 130% surge for Cardano in the coming days. He said that Despite the crypto market’s recent decline, 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 retaining $3.5 million worth of Pendle. This whale’s activity suggests confidence in Pendle’s long-term value.
Chainlink is another altcoin drawing whale interest. Crypto analyst Ali Martinez said that whales accumulated 6.2 million LINK tokens ($76.8 million) in the past week. Chainlink’s recent price dip appears to have prompted a “buy the dip” strategy among large holders. Santiment’s data indicates LINK’s 30-day MVRV is at -11.1%, suggesting the asset is undervalued and potentially poised for a price increase.
Cardano To Surge 130x?
Cardano, known for its scientific and methodical approach, is preparing for a pivotal update: the upcoming Vasil hard fork. This update marks the network’s entry into the Voltaire era. Could this lead to a 130% price surge? Historical trends suggest it’s possible. The ADA token experienced 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 by 130% before its 2021 hard fork, jumping from $1.35 to $3.10. The Vasil hard fork, expected to enhance Cardano’s smart contract capabilities and decentralized infrastructure, could potentially drive a similar surge.
Cardano founder Charles Hoskinson has called this upgrade the most significant in the network’s history. If history repeats itself, ADA’s price could rise from $0.37 to around $0.80 in the coming days.