On-chain data provider firm Santiment has turned its attention to an increase in the amount of whale transactions in an altcoin project. Here are the details…
In this altcoin whale invasion
In a recent tweet, Santiment analyst team reported on Friday that ADA had a jump of about 6 percent. shared that the amount of large whale transfers in the Cardano chain has started to increase. Santiment believes these transactions are whales accumulating ADA, Cardano’s native token, from the bottom and will cause a price spike. As we reported on cryptokoin.com, earlier this week it was reported that the amount of NFTs issued on the Cardano blockchain has reached a milestone, with the amount of NFTs exceeding 5 million. Likewise, the ADA price increased by about 12 percent.
🐳📈 #Cardano got a small bounce the second half of Friday trading after large whale transaction counts began to appear on the $ADA network. An extreme example of the last time whales accumulated on a downswing, prices jumped +28% in the span of 18 hours. https://t.co/jLJbfC1BI7 pic.twitter.com/YPaYJfgmiD
— Santiment (@santimentfeed) June 3, 2022
IOHK and Cardano founder Charles While sharing the news of the ADA network transaction volume surpassing many major cryptos including BTC, ETH and DOGE, Hoskinson once again responded to Cardano critics via Twitter and mentioned ghost transactions. Hong Kong Input Outpu CTO Romain Pellerin tweeted that in 2022 the network transaction volume for Cardano exceeded that of Bitcoin, Ethereum, DOT, ALGO and Dogecoin. ADA trading volume is up 369 percent this year, while BTC is down 15 percent, Ethereum 49 percent and Dogecoin 79 percent. Commenting on this, Charles Hoskinson specifically mentioned “ghost processes” and “SpookyAlpha” again.
Transactions on the ADA ecosystem increase
Earlier, Hoskinson responded with critics calling Cardano a “ghost chain” and noted a massive increase in adjusted transaction volume on the ADA blockchain. had said. Earlier, Hoskinson posted a tweet talking about his recent network downtime. The mainnet outage lasted a little over four hours. Solana co-founder Anatoly Yakovenko took to Twitter to explain the situation and said that part of the network considered the block in question invalid, thus temporarily halting the entire Solana network. Hoskinson addressed the situation by tweeting a link to a YouTube video for Solana developers about how to fix an old video game.
This is thanks to our new ghost generator that has dramatically increased ghost transactions. We call it SpookyAlpha https://t.co/cjO2gLILMd
— Charles Hoskinson (@IOHK_Charles) June 3, 2022
admitted that he has received a lot of criticism from both Solana and Terra lately, and therefore cannot stay away from mentioning the former. As for Terra, altcoin projects Luna and UST have witnessed a serious crash in price recently. Do Kwon decided to do a hard fork, leaving the old tokens behind as Luna Classic and renaming the new one as LUNA.
