Santiment Says Retail FOMO About To Hit Cardano, Sees Ethereum-Based Coin Decoupling From Altcoin Pack
Smart contract platform Cardano (ADA) could soon witness retail fear of missing out (FOMO), according to crypto analytics platform Santiment.
In a new thread on the social media platform X, Santiment says that ADA’s surprising 25% jump last week will prompt retail investors to jump into the crypto asset.
“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.”
Source: Santiment/X
According to Santiment’s chart, 37,892 unique ADA addresses made transfers in one day, the most since it bottomed out on September 4th. The chart also highlights that ADA whales processed nearly 700 transactions worth more than $100,000 each last week.
Cardano is trading for $0.528 at time of writing, an over 20% increase during the last 24 hours.
Moving on to decentralized oracle provider Chainlink (LINK), the market intelligence firm says the Ethereum (ETH)-based protocol is seeing a similar 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.”
Chainlink is trading for $14.02 at time of writing, an over 4% increase during the last 24 hours.
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