Despite a recent market dip, whales are accumulating two altcoins: Pendle and Chainlink. A whale moved $3.8 million in Pendle to Binance, potentially for short-term profit while holding onto a larger stake, suggesting long-term confidence.
Chainlink also saw significant whale activity, with $76.8 million accumulated in the past week. The recent price drop seems to have triggered a “buy the dip” strategy among large investors. Sentiment analysis suggests Chainlink might be undervalued, potentially priming it for a rise.
Cardano, known for its cautious approach, is prepping for a major upgrade – the Vasil hard fork. Analyst Altcoin Buzz predicts a possible 130% surge based on Cardano’s 2021 pre-fork price jump.
Cardano is currently trading at $0.37, down 20% in a month. However, market data shows a 130% surge before the 2021 hard fork. The Vasil hard fork, aiming to improve smart contracts and decentralization, could trigger a similar rise.
Cardano founder Charles Hoskinson considers this the network’s biggest upgrade. If history repeats, ADA’s price could climb from $0.37 to $0.80 in the coming days.
July 2024, Cryptoniteuae
