Santiment Is Tracking Cardano Accumulation

Santiment crypto firm has been tracking Cardano accumulation. Check out the latest reports coming from the firm below.

Santiment tracks Cardano accumulation

First of all, it’s important to note the fact that the smart contract platform Ethereum (ETH) is flashing a handful of bearish indicators, according to the crypto analytics firm Santiment.

Santiment notes in a new analysis that Ethereum’s active addresses, active deposits, and transaction volume are all showing bearish divergences compared to ETH’s price.

Santiment also stated the fact that traders of the payments platform Ripple’s utility token XRP are taking profits at the highest levels since August 2021.

“XRP Network continues its impressive March recovery, with its price now +44% in the past 2 weeks and another +11% today. As a result, we’re seeing a very high level of trader profit taking, which is at its highest ratio vs. loss taking since Aug 2021.”

Also, the crypto firm stated that larger wallets have been accumulating Ethereum competitor Cardano (ADA).

“Cardano has been showing some mild decoupling signs this week, and the #7 market cap asset is +8.2% in the past 24 hours. Addresses holding 10,000 or more ADA have collectively accumulated 1.03 billion (3.3% more coins) in the past 5 months.”

US govt wages a war on crypto

Cardano creator Charles Hoskinson calls on crypto leaders to mobilize against the US government’s war on crypto assets.

In a new video update, Hoskinson said that the federal government is making anti-crypto moves.

Hoskinson also made sure to address several actions by the government, including sending a Wells notice to Coinbase and denying Custodia’s application to become a member bank.

“It is very clear that the executive branch is conducting a silent war against crypto. And this particular executive branch, they say one thing, they do another thing. So publicly, they say everything’s great, but then privately, there’s chokepoint 2.0.” Check out our previous article in order to learn more details.