Logo
Cardano Ecosystem

The Crypto Times

11/21/2024

·

42 views


Cardano (ADA) Price Rises as Whale Activity Increases 145%

Cardano (ADA) performed well today rising by more than 12%, with its price reaching a daily high of $0.83. This increase comes along with a big 145% jump in whale activity over the past month.  ADA has also...

Cardano (ADA) Price Rises as Whale Activity Increases 145%

Cardano (ADA) performed well today rising by more than 12%, with its price reaching a daily high of $0.83. This increase comes along with a big 145% jump in whale activity over the past month. 

ADA has also gained almost 54% in the last week, making it one of the top-performing altcoins. Investors are now looking forward to ADA possibly reaching the important price of $1. Crypto expert Ali Martinez has predicted that ADA might even reach $6 in this market cycle.

Ali_charts's Twitt
Source: X

The rise in Cardano’s price is mainly due to an increase in the number of whales buying ADA. Wallets holding over $10 million in ADA have increased their holdings by 145.72% in just one month. Martinez pointed out that this big increase in whale accumulation is helping push the price of ADA higher. As of November 18, whales now hold $12.11 billion worth of ADA.

Cardano is also seeing growth in its decentralized finance (DeFi) space. According to Defillama, the Total Value Locked (TVL) in Cardano’s DeFi projects has risen to $479.8 million, getting close to its highest level ever. 

In addition to whale activity and DeFi growth, Cardano’s market activity is also strong. Data from the platform Santiment shows that ADA is moving away from the rest of the altcoin market, becoming stronger compared to Bitcoin. Santiment also reported that the ADA/BTC pair saw a 26% price jump last time similar activity occurred in June.

Martinez also pointed out that the number of large transactions in ADA has increased by 297% in the last two weeks. Large transactions reached a total of $22.56 billion, showing that big investors are becoming more active in Cardano. 

Martinez believes that Cardano’s price could follow a pattern similar to the 2020 bull run, with ADA potentially rising by 2000% and reaching $6. He has shared charts showing this possible price movement, with a market peak expected by 2025. 

At the moment, ADA is trading at $0.8003, with a market cap of $28 billion. Its trading volume has also increased by 163%% to $23.78 billion, according to CoinMarketCap.

Also Read: Trader Makes $988K in 3 Hours from Rug Pull Memecoin



AD

Cardano Catalyst Project - Discover and Vote for our proposals in Fund 13 by December 12, 2024 11:00 UTC

If you are you using your ADA to vote in Cardano’s Project Catalyst don’t forget to voice your vote. We would be excited if you can see, comment, share and vote for us. Cast your vote today, find our proposals by searching "CardanoFeed" in the Voting App.Vote for Us


Read Original Article on The Crypto Times

ORIGINAL SOURCE

https://www.cryptotimes.io/2024/11/21/ca...

Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


An image that says Learn Blockchain technology and get ahead in the industry with a link to the Cardano Academy.

More from The Crypto Times

See more
Cardano (ADA) Surges 50% Amid Ripple Partnership Speculation
The Crypto Times
Cardano (ADA) Surges 50% Amid Ripple Partnership Speculation

11/20/2024

·

35 views

Related News

See more

Featured News

See more



    DEFAULTENGLISH (EN)SPANISH (ES)RUSSIAN (RU)GERMAN (DE)ITALIAN (IT)POLISH (PL)HUNGARIAN (HU)JAPANESE (JA)THAI (TH)ARABIC (AR)VIETNAMESE (VI)PERSIAN (FA)GREEK (EL)INDONESIAN (ID)ROMANIAN (RO)KOREAN (KO)FRENCH (FR)CZECH (CS)PORTUGUESE (PT)TURKISH (TR)