Analytics Firm Santiment Reports ‘Extreme’ Levels of Whale Activity in Cardano (ADA) and 3 Other Cryptocurrencies
Cryptocurrency analysis company Santiment analysts reported in their latest post that whale activity in some cryptocurrencies has reached the highest level in the last 6 months.
As it is known, Bitcoin is currently continuing an impressive rally and continues to push the peak of $ 38,000 with its peak of $ 37,968 today.
According to Santiment analysts, whales increased their activities in the Bitcoin (BTC), Ethereum (ETH), Chainlink (LINK) and Cardano (ADA) networks to extreme levels, and the data in question reached the peak of the last six months.
Analysts said that there may be a profit-selling event in these cryptocurrencies towards the end of the week, but this does not necessarily mean that peaks are seen for these cryptocurrencies.
As is known, the recent rally in Bitcoin was driven by speculation that BlackRock’s spot BTC ETF would be approved. Bloomberg analysts give a 90% chance of the ETF being approved by January 10.
However, we are experiencing a similar BlackRock effect in Ethereum. BlackRock had applied for a spot ETF for ETH late yesterday. Following the news, the price of ETH exceeded $ 2,000 after a long time.
*This is not investment advice.
