Logo
Cardano Ecosystem

U.Today

06/21/2023

·

330 views


Is Cardano (ADA) Price Rally Imminent? Whale Activity May Signal This

Cardano whales make waves as ADA price hits epic milestone

Is Cardano (ADA) Price Rally Imminent? Whale Activity May Signal This

Cardano (ADA) recently witnessed a surge in both the number and volume of large transactions, suggesting a potential price rally on the horizon. According to crypto intelligence portal IntoTheBlock, the Cardano token experienced a significant increase in transactions valued at $100,000 or more. In a span of 24 hours on Monday, these substantial transactions rose by an impressive 990, reaching a total of 6,460.

article image

Source: IntoTheBlock

The surge in volume was equally notable, with a staggering increase of 3.4 billion ADA (equivalent to $770 million) over the same period. The total value of these transactions amounted to an impressive 36.67 billion ADA, or approximately $9.54 billion.

Back to 2018

This uptick in large-scale Cardano transactions coincided with the ADA token's price, which stood at $0.26 during the observed period. This value is of particular significance as it mirrors the initial trading price of the Cardano token on Binance, the world's largest cryptocurrency exchange.

Such a price level holds considerable importance for experienced investors, who often seek to establish positions close to key benchmarks, allowing for better risk assessment.

article image

Source: TradingView

While it would be premature to definitively claim an imminent price rally for ADA, it is essential to closely monitor the behavior of prices in this range to gain a better understanding of the broader crypto market. Analyzing the influence of whale activity, or transactions involving significant amounts of ADA, can offer valuable insights into market trends and potential price movements.

About the author

Gamza Khanzadaev

Financial analyst, trader and crypto enthusiast.

AD

Proposals Catalyst F14 - Cast your vote, search "Otavio" in the Voting App.

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. Tip: To find them its easiest to search for "Otavio"Vote for Us


Read Original Article on U.Today

ORIGINAL SOURCE

https://u.today/is-cardano-ada-price-ral...

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.


More from U.Today

See more
Cardano Founder Eyes AI Integration, But There's a Catch
U.Today
Cardano Founder Eyes AI Integration, But There's a Catch

02/08/2025

·

305 views

Related News

See more
Voting for Us - Catalyst Fund 14

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)