📈 Cardano is decoupled from the altcoin pack, nearly matching its 8-month high. Its price ratio against Bitcoin is also nearing an 8-month high. The last time we saw this level of ADA transaction and whale volume was in June, just prior to a +26% burst in the ADA/BTC pairing.

🐟 When a network's overall amount of wallets declines, it is a sign of FUD & capitulation from novice traders that is often a bullish indicator for the coin's price (since those liquidated coins are likely being bought by larger whales & sharks who are hodling for the long-term.

Retail traders largely control the amount of non-empty wallets on a network, considering there are an enormous amount of small wallets compared to whale wallets. With this said, here are the changes in non-empty wallets over the past month for notable top cap assets:

🪙 Bitcoin (BTC): +11,263 (+0.02%)
🪙 Ethereum (ETH): +1,950,000 (+1.50%)
🪙 XRP Ledger (XRP): +88,261 (+1.61%)
🪙 Cardano (ADA): -34,931 (-0.78%)
🪙 Dogecoin (DOGE): +109,410 (+1.65%)
🪙 Chainlink (LINK): +991 (+0.14%)

🚀 Cardano has been one of the notable surprise altcoins taking flight during this crypto-wide pump. Now up over +25% in the past 3 days, we may be seeing some retail FOMO coming soon. This has been a long time coming for the patient ADA community.

🧑‍💻 Here are crypto's top overall coins by notable development activity the past 30 days. Directional indicators represent each project's ranking rise or fall since last month:

➡️ 1) Internet Computer $ICP 🥇
➡️ 2) Chainlink $LINK 🥈
➡️ 3) Hedera $HBAR 🥉
📈 4) Cardano $ADA
📉 5) Optimism $OP
📈 6) Kusama $KSM
📈 7) Polkadot $DOT
📈 8) Ethereum $ETH
📉 9) ZKSync $ZK
📈 10) Starknet $STRK

📖 Read about the Santiment methodology for pulling github activity data from project repositories, and why it is so useful for crypto trading!

🧐 Bitcoin has dropped as low as $58.9K today, returning to a 3-week low. However, traders are identifying this as a dip buy opportunity. The narrative flipped to bullish particularly after the US CPI report announced slightly higher inflation, with rate cuts still likely.

🧑‍💻 Here are crypto's top overall coins by notable development activity the past 30 days. Directional indicators represent each project's ranking rise or fall since last month:

➡️ 1) Internet Computer $ICP 🥇
📈 2) Chainlink $LINK 🥈
📉 3) Hedera $HBAR 🥉
📈 4) Optimism $OP
📉 5) Cardano $ADA
➡️ 6) Cosmos $ATOM
📈 7) ZkSync $ZK
📈 8) Avalanche $AVAX
➡️ 9) Polkadot $DOT
➡️ 10) Kusama $KSM

Read about the Santiment methodology for pulling github activity data from project repositories, and why it is so useful for crypto trading.

📊 As traders await a potential Bitcoin/crypto rebound, Cardano, Quant, and Holo are three notable assets seeing a sudden surge in address activity. When coins that are declining in value suddenly see rises like these, it historically raises the likelihood of a bounce. 📈

🐳 The decline in overall whale activity across most crypto assets has become more and more noticeable. Peak 2024 $100K+ transaction weeks for BTC & ETH compared to recently:

Bitcoin:
March 13-19: 115.1K Whale Transactions
August 21-27: 60.2K Whale Transactions

Ethereum:
March 13-19: 115.1K Whale Transactions
August 21-27: 31.8K Whale Transactions

Be mindful that a decline in whale activity doesn't necessarily mean they are dumping or prices are likely to drop as a result. Top addresses notoriously become most active during times when volatility is at its highest.

Overall, among activity that is happening from whales, Santiment data still indicates a steady flow of accumulation despite less overall transactions.

🗣️ According to live social data, these are the tokens seeing the highest rise in social volume Monday, and why:

🪙 Bitcoin $BTC: Notable conversations about the challenges faced by bitcoin miners, potential price dips, and the activities of whales.

🪙 Cardano $ADA: Concerns regarding its market position, adoption rate, and utility compared to other cryptocurrencies. There are ongoing debates about its technological advancements and potential use cases, particularly in Africa, which contribute to the prominence of Cardano in the crypto community.

🪙 Velo $VELO: Voting and community engagement, indicating active participation from the community. Additionally, there are references to official contract addresses and reminders about scams.

📊 Crypto is showing signs of recovery, with Bitcoin rebounding to as high as $61.3K today. The crowd sentiment has been flipping more and more bullish for most top caps since the August 5th bottom, and BTC +19% since that fear-causing crash. 👍