Crypto Whales Quietly Amass Cardano: What Are They Preparing For? - Crypto Data Space

Crypto Whales Quietly Amass Cardano: Is a Price Pump on the Horizon?

According to well-known cryptocurrency expert Ali Martinez, market whales have amassed 150 million Cardano coins. In barely two weeks, when the coin was beginning to show indications of a price recovery, they had amassed this 150 million ADA position. The larger crypto community has responded to Ali’s X post regarding ADA accumulation, with many believing that a significant move may be imminent. These whales may be filling up before a possible pump, according to some enthusiasts.

ADA Price Jumps 8% in a Day: Is a New ATH Coming Soon?

According to some analysts, ADA is about to hit a new all-time high, with $3 as a possible target. As of this writing, ADA is trading at $0.9130, up 0.28% over the previous week and 8.66% over the previous day. ADA previously remained stable at $0.88, holding onto important support at $0.85, and bulls are aiming for a possible $1 breakout. Analysts believe that the critical support zone, which is located between $0.84 and $0.85, is very important because it has the potential to significantly influence the price of ADA‘s next significant move.

Cardano Adoption Grows

There remains a great deal of hope for Cardano despite the digital asset’s present performance. The coin’s adoption and institutional demand have significantly increased in just this year. It was announced a few days ago that leading asset management company Grayscale is considering issuing a spot Cardano ETF.

It was confirmed that the Grayscale Cardano Trust ETF has been registered in Delaware, further underscoring institutional interest. In general, the total amount of institutional assets held by ADA has surpassed $900 million. In this regard, the structural value of the coin is what big investors are interested in, not the short-term speculation surrounding ADA. Their ongoing substantial investment in the asset can be explained by this.

For more up-to-date crypto news, you can follow Crypto Data Space.

Crypto Whales Quietly Amass Cardano: What Are They Preparing For?