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Cardano Ecosystem

Bitcoinik

12/06/2023

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Crypto Whales buying $ADA coin in big amounts, amid bullish sentiments

Over the past few weeks, the whale’s activities in the ADA coin surged rapidly & heavily.Cardano is a popular scalable blockchain network. ADA is the native coin of this network. The current trade price...

Crypto Whales buying $ADA coin in big amounts, amid bullish sentiments

Over the past few weeks, the whale’s activities in the ADA coin surged rapidly & heavily.

Cardano is a popular scalable blockchain network. ADA is the native coin of this network. The current trade price of ADA coin is $0.42 & this trade price is 9.59% higher over the last 7 days of trade price. 

Crypto Whales buying $ADA coin in big amounts, amid bullish sentiments 1

In the last week, the Cardano network saw huge numbers of on-chain activities by the whales. Some crypto analysts noted that it is an indication of institutional money inflow in the Cardano ecosystem.

#Cardano | In the last three months, there's been a significant increase in $ADA transactions over $100,000, reaching new highs consistently.

This surge points to growing interest in #ADA from institutional players and whales, which is usually a precursor to price spikes. pic.twitter.com/APczM2PGxM

— Ali (@ali_charts) December 4, 2023

The current situation for the majority of the Ada coin Investors is not pleasant, as 55.2% (2.46 million) addresses holding Ada are still in loss of up to 5.19%. However, the recent pump in the trade price of ADA coin showed that the number of profitable ADA coin holding addresses is surging and obviously it will bring more confidence among the investors.

Notebely 55.2% of the number of Cardano (ADA) addresses are in loss, despite pump in the trade price of ADA coin over the couple of weeks. pic.twitter.com/QYu8FsJQ69

— Bitcoinik – Next Generation Bitcoin Media (@Bitcoinikdotcom) December 6, 2023

Just a couple of weeks ago, Cardano grabbed huge popularity because of an Artificial Intelligence (AI) focussed chatbot launch on the Cardano network. 

As we all know very well currently the crypto market is in the initial phase of a bull run and the majority of the veteran traders are exploring AI-focused cryptocurrencies to invest money & secure profit by several folds. 

On 24 Nov, Cardano GPT, a blockchain network-focused AI developer team, announced the successful launch of the chatbot (Girolamo) in the Beta phase of the Cardano blockchain network. 

We are utterly excited to announce that we have successfully launched the first internet-enabled generative chatbot (Girolamo) on Beta phase 🥳.

Girolamo provides answers to wide array of queries, spanning across every Industry and down to our day to day questions & inquires.… pic.twitter.com/Ujci5kGcrk

— Cardano GPT (@replyada) November 24, 2023

According to the majority of the Cardano proponents, the Cardano project is currently the vehicle of the current market trend which is web3 & AI technology, so it may be a more promising project to invest money in. 

Read also: US SEC postpones Grayscale’s Ethereum spot ETF application

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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.


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