The post Industry Insider Explains Why Whales are Ditching Cardano (ADA) for Algotech (ALGT) appeared on BitcoinEthereumNews.com.

Cardano (ADA) is one of the most known cryptocurrencies in the market, with a coinmarketcap ranking in the top 10. It has been one of the top gainers in the 2021 bull run, with an all-time high of $3.10. Currently, it is priced at $0.59 with a market cap of $21B. In 2024, some altcoins showed major recovery, almost near their all-time highs due to the positive sentiment in the market and the approval of the spot Bitcoin ETF. This drove major inflows into the crypto market, benefitting many altcoins. But some failed to recover as expected, and one of those altcoins is Cardano (ADA). The recovery has been very slow, and it hasn’t been able to cross $1 for a long time. Whales have been eyeing Cardano for its recovery, but now the bullish sentiment is declining. Fast growth and a constant upward trajectory were expected, but Cardano failed to provide the expected results On the other hand, some new projects are almost near to crossing $1 and are becoming a challenge to other altcoins with their fast growth. These new promising projects are now noticed and being observed by investors due to their potential. One of these projects is Algotech (ALGT), which launched in 2024 and has shocked the crypto market with its outstanding performance in a short time. Investors are predicting a bright future for Algotech (ALGT) with major price pumps. Let’s have a look at Algotech (ALGT) and why whales are ditching other altcoins for this altcoin. Investor Sentiment Points To Major Bullish Movement Towards Algotech Whales have a bullish sentiment towards Algotech rather than Cardano because they believe that the new project Algotech’s performance in a short time is far better than Cardano’s long-term performance and during the recovery phase. Now, let’s discuss an overview…

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Filed under: News - @ February 20, 2024 6:18 am