Cardano Price Balloons 107% As Whales Scoop Up 1.41 Billion ADA
As large companies increase their engagement in the cryptocurrency sector, the Cardano ecology is changing dramatically. According to recent data, wallets holding over a million ADA have been rapidly growing...
As large companies increase their engagement in the cryptocurrency sector, the Cardano ecology is changing dramatically. According to recent data, wallets holding over a million ADA have been rapidly growing since November 2023, amassing an additional 1.41 billion ADA tokens. This significant accumulation, which accounts for 2.35% of Cardano’s total supply, conveys a clear statement about the project’s institutional support.
Cardano: Whale Activities Signal Market Confidence
Whale movements have had nothing less than a remarkable outcome: Santiment’s research reveals a solid 107% price increase since these wallets started their accumulation spree.
Market watchers point out this isn’t only another pump-and-dump situation. Rather, it marks a basic change in the way big investors view Cardano’s long-term possibilities in the brodaer cryptocurrency scene.
🐳📈 Cardano’s market cap has recovered by +11% on a day where most cryptocurrencies have retraced. One thing to continue watching is the continued behavior of whales and sharks.
Wallets holding at least 1M $ADA have been consistently accumulating since late November of 2023,… pic.twitter.com/pTHCqRCRC7
— Santiment (@santimentfeed) February 11, 2025
Long-Term Holders Display Unwavering Faith
Examining IntoThe Block’s statistics closer reveals an interesting picture of changing investment behavior.
Long-term ADA holders have raised their positions by 1.81%, exhibiting a wise investment strategy. The most notable change comes from the mid-term investors, sometimes known as “cruisers,” who have raised their holdings by a decent 7.65%.
This increase points to a maturing market in which investors are choosing steady expansion above short gains. Short-term traders, meantime, have clearly turned away from speculative trading by cutting their exposure by 11.75%.
Technical Indicators Point To Possible Price Discovery
For Cardano, the challenging terrain is opening doors for opportunity. Crypto guru Trader Steve has made striking comparisons between XRP’s recent price movement and ADA’s present market structure.
I have a gut feeling this is ready to pull an $XRP and i’m bidding the fibonacci.. 🐳
Is anyone even still holding this? pic.twitter.com/ew2G7q1QmF
— TraderSteve_ (@TraderSteve_) February 8, 2025
Key support levels in the 62% and 78% Fibonacci retrace zones give the price a strong base for an eventual rise. Even though ADA hasn’t gotten back to its all-time high of $1.32 in December 2024, many experts are still optimistic about its future. An esteemed member of the cryptocurrency community, Yoel Jr., stresses the importance of the $0.81 level as a stopping point for confirming positive progress.
Price Targets And Entry Opportunities Ahead
Based on Jonathan Carter’s study of the daily chart, ADA may be getting ready for its next significant action with a promising bull flag formation. A retest of the $0.60 level, according to Carter, would offer investors wishing to create positions strategic points of access.
The road ahead consists of three important pricing targets: $0.845, $1, and $1.325. These tiers mark potential pause points in what might be Cardano’s path to unprecedented success.
Although the crypto market is always erratic, the combination of whale accumulation, strong holder faith, and good technical setups points to Cardano positioning itself for a big market movement in the next months.
Featured image from DALL-E, chart from TradingView
They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.
Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).
Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!
So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).
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Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.
Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.
So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.
Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
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