Whale Activity Explodes for Ethereum Rival Cardano, The Sandbox and Two Additional Altcoins: Santiment

Whale activity is currently spiking for Cardano (ADA) and The Sandbox (SAND), according to the crypto analytics firm Santiment.

Santiment notes in a new analysis that Cardano has witnessed “major interest” from whale addresses since the beginning of February.

Buy physical gold and silver online

The analytics firm views whale transactions as those larger than $100,000.

“Don’t mind the five-day anomaly gap in data for Cardano. Just take a look at what the asset has done since February. Clearly a huge spike indicating some major interest from whales at this level.”

Source: Santiment

The Ethereum (ETH) competitor’s native asset, ADA, is worth $0.39 at time of writing. The seventh-ranked crypto asset by market cap is down more than 3% in the past 24 hours but up more than 3% in the past month.

ADA remains more than 87% down from its all-time high of $3.09, which it hit in September 2021.

On Sunday, The Sandbox, a metaverse altcoin, saw its third-largest spike in whale transactions in the past three months, according to Santiment.

The analytics firm notes that because the uptick in whale activity happened while the project’s native asset, SAND, was also surging in price, it “increases the probability of at least a short-term correction.”

“The Sandbox has been on quite a tear of its own. Not quite to the capacity that Hex has been. But it has been turning heads quite a bit. Yesterday was the third highest whale spike in the past 3 months. And it came as prices were rising rapidly. This increases the probability of at least a short-term correction.”

Source: Santiment

SAND is worth $0.783 at time of writing. The 43rd-ranked crypto asset by market cap is down more than 6% in the past 24 hours and more than 3.5% in the past month. SAND remains more than 90% down from its all-time high of $0.783, which it hit in November 2021.

Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The post Whale Activity Explodes for Ethereum Rival Cardano, The Sandbox and Two Additional Altcoins: Santiment appeared first on The Daily Hodl.

About the author

Why invest in physical gold and silver?
文 » A