Despite the crypto winter, loaded whale processes are turning the tide for 2 altcoins. Big investors are attacking two projects from the top 20 mid-20s, one with NFT installed.
Santiment expects 2x price increase for this altcoin
Santiment analysts reported that ADA is currently in the lowest position relative to its value since the beginning of 2019. In particular, showing that a cryptocurrency is very valuable and low-value, MVRV has reached an important milestone for ADA. Santiment analysts stress that this is “a sign of low value based on average investor loss.” Now, the ADA’s MVRV Z-Score has reached -1.35 for the first time in 45 months since January 2019. The last time it reached this level, the ADA price had doubled over the next three months.
In the midst of this, Santiment analysts tweeted two days ago that ADA, XRP, Bitcoin and BNB continue to rise. This trend is due to the increase in social volume information of cryptocurrencies. The Santiment team analyzes multiple posts on Twitter and other social media platforms to gauge social sentiment. Therefore, these metrics for ADA and XRP remain bullish despite the crypto winter.
Whales attack Cardano NFTs
Cardano is witnessing great activity, especially in NFT. Ape Society, a Cardano NFT project, reached a base price of 15,000 ADA in the last 24 hours. It also announced the first ADA process on the Citadoc platform. Another project, Cardano DEX AdaSwap, announced its mainnet launch on November 28. Also, AdaSwap is now migrating to the Aptos network.
Altcoin whales pile up LINK despite decline
Chainlink, which has come to the fore with whale processes recently, has been in the accumulation phase since May 2022. Data from Santiment shows that Chainlink whales have accumulated approximately 47.31 million LINK since March 2022. The analytics platform revealed that traders holding LINK in the middle of 10,000 to 1,000,000 have consistently accumulated altcoins since May 2022.
The giant whales have added around 47.31 LINK to their portfolio in the last eight months. Big investors did not stop buying LINK during the bear market. Investors currently holding LINK in the middle of 10,000 to 1,000,000 continue their accumulation trend despite the recent decline. Information from Santiment shows that the crypto community has supported the oracle token since its inception.
LINK sees critical reinforcement level in progress
Typically, accumulation by whales is a bullish trigger for the price of a crypto. On the technical side, LINK price is indeed moving back to this level after a momentary drop below the key support level of $6.92. Chainlink has made a profit of around 4% at one point during the day. Analysts predict that the upward trend will reverse when it rises above the $ 6.92 level.
For example, forex trader Justin Bennett has identified several cryptocurrencies that are trading closer to their reinforcement levels. One of them was LINK:
Many crypto charts are currently sitting on critical footing, LINK being one of them.
Koindeks.com As you follow, LINK is currently trading at $6.85. We have mentioned the upcoming valuable dates for Chainlink in this article.