The most valuable cryptocurrencyranked seventh on the list of Cardano (ADA) It is trading at $0.40 with a market cap of $13 billion.
With the ADA bear market, which rose more than 20 times in the 2021 bull, it lost 90% of its value.
As investors wonder if a similar performance will be seen in the new bull market, there is a new report from Santiment. Cardano report arrived.
Stating that crypto money whales show interest in Cardano, the PoS Layer-1 protocol, Santiment said that the total number of transactions exceeding $100,000 exceeded 539 as of Monday, February 20.
“Ignore the 5-day abnormality gap on the chart for Cardano.
Just take a look at what Cardano has been up to since February.
Obviously, there is a huge increase, which shows the great interest of whales at this level.”
The rise that started at the beginning of 2023 showed itself in ADA as well. Cardano posted an increase of around 60%.
Whale transaction data from Santiment shows that Cardano’s price moves in tandem with whale movement. ISLAND If the accumulation continues, a more widespread rise can be expected.
Because Santiment had stated in its previous report that there was a significant increase in whale activity in Cardano.
Stating that whale transactions in ADA in February surpassed those in January, Santiment said that this situation Cardano He said it bodes well for him.
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*Not investment advice.
This article was originally published on Bitcoinsistemi.com.