Cardano ADA price has surged in the last 24 hours as big investors (whales) have recently bought 17 billion ADA. This transaction might lead to the recovery of Cardano.
Cardano ADA Price has gone up in the last 24 hours. The price jump happened as ADA trading increased. This increased trading is on the account of whales (Big Crypto Investors) buying ADA in bulk. The total tokens purchased by whales in the last 24 hrs were a staggering 17 Billion ADA tokens.
Cardano ADA Price: Whales Making Moves
Large holder of Cardano (ADA) has been very active. According to IntoTheBlock’s dashboard which tracks transactions over $100,000, a big move was seen on Friday. 17.78 billion ADA tokens (worth $7 billion) were traded between whale addresses. Although the number of large transactions has declined since the beginning of the week, the spike is noticeable.
In the last 24 hours, 15.43 billion ADA tokens (worth $6.28 billion) were transferred between large holders. However, there is a possibility that these tokens may be transferred to be sold on exchanges, but on-chain data contradicts this. Instead, ADA whales are rapidly accumulating tokens.
The Large Holders Inflow metric, which tracks ADA tokens coming into wallets holding at least 0.1% of the circulating supply, shows a 579% increase in inflows over the past seven days and a 173% increase over the past 30 days. This accumulation has led to a significant increase in net flows with a rise of 720.62% in the last seven days and a dramatic 2580% increase in the last 30 days.
Cardano Recovery Imminent?
Cardano ADA price: Big investors are investing huge amounts in Cardano (ADA) and holding it and are really confident about Cardano’s future. Big investor are think Cardano will be very successful. The main reason for this is a big update coming to Cardano called the Voltaire era. Its update will make Cardano completely independent. Everyone in the crypto world is excited to see how this update will change
There are also rumors that Cardano may also get its own spot ETF soon after Ethereum gets its spot ETF approved. Currently, Cardano is priced at $0.4171, up 1% in the last 24 hours. The next target is to overcome the $0.42 level.
Conclusion
Big investors are investing a lot of money in Cardano, and Cardano ADA price is also increasing. This is good news for Cardano. Some big changes are going to happen in Cardano and big companies are also taking interest in it, so Cardano may perform well in the future. Everyone wants to see what Cardano does next.
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