Whales Are Accumulating Ethereum-Based Altcoin Project

The crypto market does not bring anything exciting today regarding the prices. Check out the latest news about what whales are doing these days.

Crypto analytics firm Santiment just explained that two of the largest altcoins by market cap now possess diverging near-term prospects.

Firstly, the firm analyzes Chainlink (LINK), which is the Ethereum-based altcoin powering a decentralized network that enables smart contracts to access real-world data.

Santiment said that Chainlink whales managed to boost their holdings of the oracle network’s native token. They are accumulating 17.1 million LINK tokens worth over $228.28 million in less than two weeks.

“Chainlink’s key whale addresses that hold between 10,000 to 10 million LINK have accumulated 17.1 million since February 27th. This rise in their collective holdings is encouraging, considering these address holdings correlate with rises and falls against BTC.”

Next up, Santiment addresses Ethereum-competitor Fantom (FTM).

Santiment made sure and highlighted that the trajectory of the smart contract-enabled blockchain’s native token has “changed dramatically overnight.”

📊 With @AndreCronjedev departing from #Fantom, $FTM‘s trajectory has of course changed dramatically overnight. Additionally, $YFI, #KP3R, and roughly 25 projects are no longer supported. Active addresses, deposits, network growth are broken down here! 👀https://t.co/aVtnrYHWLs pic.twitter.com/0wHC85T5rR

— Santiment (@santimentfeed) March 11, 2022

The situation involving Russia and Ukraine has been all over the media for the past few days. There are economic consequences and not only. The crypto market is also affected by the geopolitical scenario.

Now, the tensions between the United States and Russia spread across numerous sectors, and meanwhile, Senator Elizabeth Warren is looking to crack down on potential crypto loopholes.

According to an NBC News report, the senator is drafting legislation to bolster sanctions the US imposed after Russia first invaded Ukraine two weeks ago.

The letter states this:

“Criminals, rogue states and other actors may use digital assets and alternative payment platforms as a new means to hide cross-border transactions for nefarious purposes.”