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08/08/2023

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Cardano (ADA) Pumps With Increasing Whale Accumulation, Reports Santiment - ELEVENEWS

Cardano reaches 8th rank with a $10B market cap, as per Santiment.  Currently, ADA is trading at $0.29 with a 0.69% dump in the last 24H. In accordance with the metrics and records of Santiment, an analytics...

Cardano (ADA) Pumps With Increasing Whale Accumulation, Reports Santiment - ELEVENEWS
  • Cardano reaches 8th rank with a $10B market cap, as per Santiment. 
  • Currently, ADA is trading at $0.29 with a 0.69% dump in the last 24H.

In accordance with the metrics and records of Santiment, an analytics platform, the sharks and the whales of the crypto world have accumulated Cardano (ADA) to its current rise compared from its highest since 2022. Moreover, ADA has reached 8th rank with its market capitalization of around $10 billion.

Considering the transaction volume of ADA, Santiment reports that the last week remarks the consecutive rise of over 67 billion. Meanwhile, the effective accumulation of Cardano among the crypto investors in the last 6 months is huge. Around 100K to 10M ADA holdings are recorded so far and have included more when the price hits $0.29. 

The Cardano wallets have accumulated more than $116M since 21st May of 2023. Currently, ADA is trading at $0.292 which has fallen by 0.69%. The on-chain transaction volume is hitting an increase with the concern for graphical statistics. 

Cardano (ADA) Chart (Source: Santiment)

The technical analysis shows that the buyers turned more assertive towards Cardano purchases. Moreover, the whales and sharks constitute the dominance of ADA holders in the bullish state despite the price drop. Furthermore, the recent Q2 report of Messari revealed the decentralized application (dApp) transactions with the tech stats. 

Cardano’s development team is aggressively working towards creating an effective performance than Ethereum’s development team. Thereby, there is no such launch set for the end of 2023 yet the GitHub repository is active with robust activity. 

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