Cardano Whale Transaction Volume Soars – ADA Price Direction Change Likely, Santiment Says

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Yuri Molchan

Recent report shows that ADA trans­ac­tion vol­ume fueled by whales has great­ly increased as of late

Dis­claimer: The opin­ion expressed here is not invest­ment advice – it is pro­vid­ed for infor­ma­tion­al pur­pos­es only. It does not nec­es­sar­i­ly reflect the opin­ion of U.Today. Every invest­ment and all trad­ing involves risk, so you should always per­form your own research pri­or to mak­ing deci­sions. We do not rec­om­mend invest­ing mon­ey you can­not afford to lose.

On May 12, San­ti­ment ana­lyt­ics team noticed a spike in whale trans­ac­tions on Car­dano chain, while the price dipped to the $0.40 lev­el. The tweet even spec­i­fied the times when this rise in trans­ac­tion vol­ume occurred – between 8 a.m. and 12 p.m.

San­ti­ment stressed that whale trans­ac­tion spikes like these are often fol­lowed by ADA price reversal.

By now, the top 7 coin ADA is trad­ing at $0.5301 after recov­er­ing to the $0.6 zone from $0.4. At the moment, ADA is 82.72 per­cent below its his­toric peak of $3.10 reached on Sep­tem­ber 2.

This year, on Jan­u­ary 18, the coin man­aged to rise a high of $1.6.

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BSC whales holding 30.8 million ADA

As cov­ered by U.Today ear­li­er this week, some of the largest whales on the BNB Chain are hold­ing rough­ly 30.8 mil­lion ADA coins (on BCS) in their portfolios.

The address­es of “whales” con­tain a $886,582 worth of var­i­ous cryp­tocur­ren­cies on average.

This sug­gests that these BSC investors have been accu­mu­lat­ing ADA active­ly as of late.



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