According to a popular crypto analyst, the leading Ethereum (ETH) rival blockchain Cardano (ADA) whale-sized transactions are on the rise.
Ali Martinez noted to his 21,600 Twitter followers that Cardano transactions exceeding $100,000 have increased, “indicating the increasing participation of institutional investors and ADA whales.”
“The volume of large ADA transactions exceeding $100,000 on the Cardano network is growing!
This trend shows the increasing participation of institutional investors and ADA whales and sheds light on investment strategies.”
NEWS CONTINUES BELOW
ADA is worth $0.324 at the time of writing. Cardano is up 0.28% in the last 24 hours and nearly 5% in the past week. The seventh-ranked crypto asset by market cap has also increased by around 30% since the start of 2023.
Despite this year’s price recovery, ADA continues to drop more than 89.5% from its all-time high of $3.09 in September 2021.
In addition to increased whale transactions, Cardano also tops the charts in terms of weekly development activity on development hosting platform GitHub.
The analyst, nicknamed Bagsy, posted earlier this week via his Twitter account ProofofGitHub that Cardano’s all the rest of the issue on the subject. crypto- He shared a chart showing that he is leading his projects.
ProofofGitHub is powered by crypto analytics firm Santiment.
Santiment said that the high amount of development activity taking place in a blockchain ecosystem could indicate that people believe in its future.
According to ProofGitHub, interoperability blockchain Polkadot (DOT) and sandbox Kusama (KSM) ranked second in terms of weekly GitHub development activity. Ethereum ranked third.