• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Crypto Wallet Activity: A Look at ADA, DOGE, and LINK

user avatar

by Giorgi Kostiuk

a year ago


Recent shifts in wallet activity for Cardano (ADA), Dogecoin (DOGE), and Chainlink (LINK) show differing trends. ADA and DOGE have seen a decrease in active wallets, while LINK's popularity is on the rise.

Decline in ADA and DOGE Wallet Activity

Cardano has seen a reduction of 29,976 wallets over the past 13 days, while Dogecoin lost 24,456 wallets in just one day. This may indicate profit-taking by holders and a possible shift toward other investments.

LINK's Rise and Market Activity

In contrast to ADA and DOGE, Chainlink (LINK) experienced a 5.40% increase in the last 24 hours, trading above $15. Additionally, LINK's wallet count grew by 991 in the past month, suggesting sustained interest in this cryptocurrency.

Why Fewer Wallets Might Signal Growth

According to Santiment, a decrease in active wallets can be a sign of capitulation and fear ('FUD') among novice traders. Often, declining interest in assets like ADA and DOGE precedes a bullish phase, as larger investors ('whales' and 'sharks') start accumulating assets.

The platform stated that decreasing wallets are a sign of FUD and capitulation from novice traders, which is often a bullish indicator.

The current changes in the wallet activities of ADA, DOGE, and LINK highlight the dynamic nature of the crypto market. Despite a perceived drop in some assets, these trends might suggest an upcoming growth phase.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Uber Launches New Services for Autonomous Vehicle Developers

chest

Uber launches Uber Autonomous Solutions to assist autonomous vehicle developers in connecting to its ride-hailing network, aiming to compete with Tesla in the robotaxi market.

user avatarKaterina Papadopoulou

XRP Faces Significant Correction Amid Market Panic

chest

XRP has plunged 69% from its recent high, causing widespread panic in the market, but analysts suggest this could be a setup for a major turnaround.

user avatarMaya Lundqvist

Conflicting Signals in Bitcoin Market: No Real Rally in Sight

chest

Recent analysis by data analyst CW indicates that key on-chain signals for Bitcoin show no genuine rally has begun, despite short-lived increases driven by speculation.

user avatarLeo van der Veen

XRP Price Approaches Potential Bottom Amid Major Capitulation Event

chest

XRP has recorded its largest realized loss spike since 2022, indicating a potential price bottom and recovery.

user avatarLi Weicheng

Bitcoin Miner Sells 1,300 BTC After 15 Years of Holding

chest

A notable Bitcoin miner sold 1,300 BTC, valued at approximately 750 million, after holding for 15 years, potentially signaling a profit-taking move.

user avatarAisha Farooq

Corporate Treasuries Mark First-Ever Selling Streak in Bitcoin

chest

Corporate treasuries have recorded their first-ever selling streak in Bitcoin, with three consecutive weeks of sales, indicating a shift to bearish market conditions.

user avatarTenzin Dorje

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.