- Cardano (ADA) whale transactions have seen a significant increase in recent weeks.
- However, the ADA price has had a different reaction over the same period.
In recent weeks, Cardano (ADA) price has seen a downward correction with some encouraging signs. Despite this, there has been a significant increase in the number of transactions made by whales.
Reading Cardano (ADA) Price Prediction 2023-24
whales in cardano waters
Sentiment data shows that Cardano (ADA) whale activity has risen dramatically since February. The number of transactions involving whales (those worth more than $100,000) has increased dramatically.
From what is being seen, it does not look like trading volume will drop anytime soon. As of this writing, nearly 300 whale transactions have already taken place, totaling more than $100,000.
The increase in ADA whale trading volume points to growing interest in the asset from institutional investors.
Given Cardano’s years of struggling to establish itself, this new development will be a welcome change if it proves consistent.
The attraction of whales to Cardano
Cardano has Detailed His strategy to integrate blockchain technology into the world’s economic and social infrastructure over several years.
Cardano fans may find the offer intriguing, but the current price range ada There may be a determining factor in the increased interest in whaling.
There could be a price hike on the horizon, and the current surge in purchasing and storage could be a prelude. His total value locked (TVL) has also increased, which may indicate the potential for ADA. Therefore, entering early at the current price may seem ideal.
ADA is floating against selling pressure
There is no noticeable price change when seeing the start of a major whale transaction Cardano (ADA) on a daily time frame.
However, it has been unable to gain traction in the bullish direction over the past week, and continued selling pressure remains a threat to its gains. At the time of writing, it was trading at around $0.34, posting gains of more than 4%.
Source: TradingView
With the Relative Strength Index (RSI) reading being below the 50 level, the market was still bearish.
Cardano’s TVL is hit
based on dafilama dataThe Cardano network has made significant progress, as measured by Total Value Locked (TVL).
It was last seen at this level in July 2022. Cardano’s TVL had risen 2.72% over the past 24 hours, bringing the total value to $117.86 million as of this writing.
How much they cost 1,10,100 ADA Price Today
Despite the slow price movement, the recent spike in whale transactions could be a precursor to further price movement. The full magnitude of the impact is still unknown, but the whales show no signs of slowing down any time soon.
