Investors are continuously accumulating these two altcoins despite the price decline
Investors are continuously accumulating these two altcoins despite the price decline.
Leading crypto analytics firm IntoTheBlock says traders are holding on to Cardano (ADA) and Chainlink (LINK) despite the recent price drop in the cryptocurrency market.
In a tweet, IntoTheBlock said that despite the smart contract altcoin platform’s nearly 73% drop from its all-time high of $3.09 earlier in the month, ADA investors haven’t flipped.
“Regardless of the price action, the Cardano hodler remains confident. Balances held by hodlers – addresses lasting >1 year at multi-year highs. These holders increased their holdings to 10.12 billion ADA, the largest balance since 11/12/2019.”
Source: IntoTheBlock/Twitter
Cardano is trading at $0.91 at press time, up nearly 10% over the past 24 hours.
LINK is trading at $14.4 at press time. The 22nd-ranked crypto asset by market cap is up almost 9% on the day. The decentralized oracle network is also down more than 72% from the all-time high of $52.7 it hit last May.
IntoTheBlock says that despite the massive downtrend, Chainlink investors have been hesitant to abandon their LINK.
“LINK holders have hit new highs time and time again. Chainlink has currently held 279,440 addresses for over a year. They represent 43.9% of the total number of owners.”
Source: IntoTheBlock/Twitter
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
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Analysis
Investors are continuously accumulating these two altcoins despite the price decline
Investors are continuously accumulating these two altcoins despite the price decline.
Leading crypto analytics firm IntoTheBlock says traders are holding on to Cardano (ADA) and Chainlink (LINK) despite the recent price drop in the cryptocurrency market.
In a tweet, IntoTheBlock said that despite the smart contract altcoin platform’s nearly 73% drop from its all-time high of $3.09 earlier in the month, ADA investors haven’t flipped.
“Regardless of the price action, the Cardano hodler remains confident. Balances held by hodlers – addresses lasting >1 year at multi-year highs. These holders increased their holdings to 10.12 billion ADA, the largest balance since 11/12/2019.”
Source: IntoTheBlock/Twitter
Cardano is trading at $0.91 at press time, up nearly 10% over the past 24 hours.
LINK is trading at $14.4 at press time. The 22nd-ranked crypto asset by market cap is up almost 9% on the day. The decentralized oracle network is also down more than 72% from the all-time high of $52.7 it hit last May.
IntoTheBlock says that despite the massive downtrend, Chainlink investors have been hesitant to abandon their LINK.
“LINK holders have hit new highs time and time again. Chainlink has currently held 279,440 addresses for over a year. They represent 43.9% of the total number of owners.”
Source: IntoTheBlock/Twitter
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
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