Global #Cardano

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.

Cryptocurrency analysis firm Santiment is signaling a potential short-term upswing for several major altcoins. Their analysis hinges on a metric known as Market Value to Realized Value (MVRV).

Cardano, a leading blockchain platform known for its rigorous development approach, has successfully implemented a significant chain update. This upgrade, primarily focused on improving staking accessibility and overall network functionality, marks another milestone in Cardano's ongoing journey towards becoming a decentralized powerhouse.

On-chain analytics platform Santiment has recently highlighted a potential scenario that could propel Cardano (ADA) to new heights. The crux of this hypothesis lies in the heavy shorting activity that Cardano is currently experiencing.

Cardano's native cryptocurrency, ADA, has been on a tear lately, experiencing a notable price surge that has captured the attention of investors and enthusiasts alike. The recent rally has fueled speculation about the possibility of ADA reaching the coveted $0.52 mark, a level that has eluded the cryptocurrency for some time.

The cryptocurrency market continues its bearish trend on June 12, 2024, with Bitcoin and major altcoins experiencing further declines. However, the meme coin PEPE is defying the trend, showing a significant price rally.