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Home»Crypto»Santiment Says Retail FOMO About To Hit Cardano, Sees Ethereum-Based Coin Decoupling From Altcoin Pack
Crypto

Santiment Says Retail FOMO About To Hit Cardano, Sees Ethereum-Based Coin Decoupling From Altcoin Pack

November 10, 2024No Comments2 Mins Read
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Cardano (ADA), a smart contract platform, is poised to experience retail FOMO (fear of missing out) soon, as per analysis from crypto analytics platform Santiment.

Santiment notes in a recent thread on X that ADA’s unexpected 25% surge last week is likely to attract retail investors to enter the crypto market.

“Cardano has emerged as one of the surprise altcoins gaining momentum amidst the recent crypto rally. With a surge of over +25% in the past three days, we anticipate retail FOMO to kick in soon. This is a long-awaited moment for the patient ADA community.”

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Source: Santiment/X

According to Santiment’s data, there were 37,892 unique ADA addresses involved in transfers in a single day, marking the highest activity since September 4th. The analysis also reveals that ADA whales conducted nearly 700 transactions valued at over $100,000 each last week.

Currently, Cardano is trading at $0.528, reflecting a more than 20% increase in the last 24 hours.

Shifting focus to Chainlink (LINK), a decentralized oracle provider, Santiment observes a similar trend in whale activity and price movement for the Ethereum-based protocol.

“Chainlink has broken away from the altcoin crowd, surpassing $13.65 for the first time since July. Whale activity is at a three-month peak, with major stakeholders holding between 100,000-10 million LINK accumulating $369.8 million worth of the coin in seven weeks, indicating an 8.2% increase in their holdings.”

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At present, Chainlink is trading at $14.02, showing a more than 4% increase in the last 24 hours.

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Generated Image: Midjourney

Altcoin Cardano Coin Decoupling EthereumBased FOMO Hit Pack retail Santiment sees
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