Cardano (ADA) and Litecoin (LTC) Whales Accumulating Aggressively, Says Crypto Analytics Firm Santiment
A leading crypto analytics firm says deep-pocketed whales are quickly accumulating Cardano (ADA) and Litecoin (LTC).
Santiment says Cardano is likely undervalued given how much whales and sharks are grabbing it up.
“Is Cardano severely undervalued at this point? One of santimentfeed’s key community members certainly sees data making this case, such as sharks and whales (holding 100,000 to 10 million ADA) accumulating aggressively these past six weeks.”
Per Santiment, there is a divergence between the price of ADA and the volume of accumulation, signaling bullish sentiment.
“I see a divergence between price and whales activity. BULLISH.”
The selling of ADA is also tapering off.
“There are signs of exhaustion of sellers. On every big price decrease there are less and less coins moving at a loss. BULLISH.”
According to Santiment, a volume gap on the daily chart could signal an upward swing.
“We are near the area of filling the volume gap. We may expect some serious buying at those levels. BULLISH.”
At time of writing, ADA is changing hands $0.247.
The Santiment analysis of Litecoin found that the price ratio of the Bitcoin (BTC) alternative is still increasing against the king asset. The price ratio against Bitcoin is the amount of Litecoin it takes to purchase one Bitcoin. The ratio increase coincides with an increase in large holders and addresses.
“Litecoin’s price ratio vs. Bitcoin remains up big since large addresses began popping up at historic rates starting in May. Since June 12th, the LTC / BTC price ratio is up plus-130%. The network just hit the most 1,000-plus LTC addresses in two years.”
Litecoin is valued at $66.17 at time of writing.
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
 
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 Cardano (ADA) and Litecoin (LTC) Whales Accumulating Aggressively, Says Crypto Analytics Firm Santiment appeared first on The Daily Hodl.
