Cardano (ADA) has recently caught the attention of large-scale investors, also known as ‘whales.’ Crypto analyst Ali, leveraging on-chain data, has observed a significant uptick in large ADA transactions, typically over $100,000, in the past three months. Ali noted that this growing trend suggests a heightened interest from institutional players and high-net-worth individuals in ADA. The analyst further disclosed that such whale activities have often been precursors of imminent price movements. #Cardano | In the last three months, there’s been a significant increase in $ADA transactions over $100,000, reaching new highs consistently. This surge points to growing interest in #ADA from institutional players and whales, which is usually a precursor to price spikes. pic.twitter.com/APczM2PGxM — Ali (@ali_charts) December 4, 2023 Notably, while transactions can significantly impact a crypto’s market dynamics, when whales accumulate an asset, it often reduces circulating supply, creating potential upward pressure on prices. Conversely, when they sell, it can result in a sudden increase in supply, leading to price drops. In ADA’s case, the recent whale activities have coincided with a positive p ..
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