Retail FOMO May Be Coming to Cardano (ADA) After 25% Jump, Santiment Says-web3.0-php.cn

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Retail FOMO May Be Coming to Cardano (ADA) After 25% Jump, Santiment Says

Patricia Arquette

Nov 11, 2024 pm 12:16 PM

cardano Ethereum Altcoin Retail FOMO

Smart contract platform Cardano (ADA) could soon witness retail fear of missing out (FOMO), according to crypto analytics platform Santiment.

Retail FOMO May Be Coming to Cardano (ADA) After 25% Jump, Santiment Says

Cryptocurrency analytics platform Santiment says that retail fear of missing out (FOMO) could propel ADA price to new highs.

In a new thread on the social media platform X, Santiment notes that ADA’s surprising 25% rally last week could entice retail investors to jump into the fray.

“Cardano has been one of the notable surprise altcoins taking flight during this crypto-wide pump. Now up over 25% in the past three days, we may be seeing some retail FOMO coming soon. This has been a long time coming for the patient ADA community.”

According to Santiment’s chart, 37,892 unique ADA addresses made transfers in one day, the highest since ADA bottomed out on September 4th. The chart also shows that ADA whales processed nearly 700 transactions valued at over $100,000 each last week.

At the time of writing, ADA is trading at $0.528, an increase of over 20% in the last 24 hours.

Next, the crypto analytics platform highlights decentralized oracle provider Chainlink (LINK), which is also seeing a strong trend in terms of whale activity and price action.

“Chainlink has decoupled from the altcoin pack, breaching $13.65 for the first time since July.

Whale activity is at a three-month high, and key stakeholders holding between 100,000-10 million LINK have accumulated $369.8 million worth of the coin in seven weeks, a 8.2% increase in their holdings.”

At the time of writing, LINK is trading at $14.02, an increase of over 4% in the last 24 hours.

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