Whales Have Started Accumulating This Altcoin! Price Almost Doubled!

Blockchain analytics firm centiment, Cardano (ADA) 8th largest by market value of whales cryptocurrency He says his asset has increased its price.

Cardano Whales Are Quietly Feeding the ADA, According to Blockchain Analysis Firm Santiment

Santiment, on Jan. 0.246 from dollars trading last week $0.412 He says the main reason for this increase is the massive accumulation of large Cardano investors, which has reached 405.85 million ADA, which is worth $162.34 million at the time of writing.

According to Santiment, there were 105 transactions worth over $100,000 on the Cardano network on Friday. cryptocurrency exchange, the highest since FTX crashed in November.

Cardano’s price increased by 65% ​​in 2023. Addresses currently holding 100,000 to 100,000,000 ADA have held the most money in their wallets since Nov. Today, more than $100,000 whale transactions hit a 12-week high.

In addition, according to the data released recently, the number of smart contracts in the ADA network was 4,000 on the first day of December. The number of smart contracts increased by 25% in just 2 months, exceeding the 5,000 mark.

The flagship cryptocurrency Bitcoin is currently trading at $23,100, up nearly 40% from the $16,531 level at the beginning of the year.

Santiment also says that high-volume transactions have been witnessed across several altcoin networks, including Loopring (LRC), Aave (AAVE), dYdX (DYDX), and Curve (CRV).

Huge whale transaction numbers are seen on many altcoin networks today. This doesn’t mean a crash is underway, but it does indicate that volatility is likely to increase.

At the time of this writing Cardano (ADA) $0.3883 traded at levels.

*Not investment advice.