• Cardano whales have seen an uptick in activity despite a slight pullback in price.
• Whale transactions higher than $100,000 were significantly higher in the last week.
• ADA’s price is still maintaining its position above the 100-day simple moving average.
Cardano Whale Activity Increases Despite Price Pullback
Cardano whale activity has seen an uptick despite a slight pullback in price. The network which remains one of the top competitors for the leading smart contract network has drawn the attention of these large investors, who have increased their activity on the blockchain significantly.
High Volume Cardano Whale Transactions
Cardano Whale Transactions Rise To 6-Month Highs With the market returning into what looks like another bull run, ADA whales are taking advantage of price action. The result of this is a massive uptick in their transacted volume on a weekly basis, which puts it back at a six-month high. Don’t wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today! Related Reading: Bitrue CSO On How Crypto Exchanges Are Faring Post-FTX Collapse The data shows that whale transactions higher than $100,000 were much higher in the last week. They collectively moved around 30 billion ADA, which is worth over $10 billion at current prices, a significant increase from the prior week. More importantly, the last time that the whales were this active was back in August 2022 when the price of ADA had rallied to a local peak of$0.57. Usually, such large movements are accompanied by positive price trends, something that is more of a possibility now that the market is seeing positive movement once more. BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? 570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!
ADA Price Holds Above Average
ADA price at $0.3439 | Source: ADAUSD on TradingView.com ADA Price Looks Solid Despite the sluggish movement over the last week, the price of ADA is still maintaining its position above the 100-day simple moving average. This position solidifies digital asset’s tendency to continue on rally rather than see another decline with whale activity ramping up driving its price further up if clears resistance level before runs out steam .
Resistance Level For ADA
However ,the cryptocurrency is still seeing significant resistance just above 035 ,with support resting at 032 could quickly lose present value if there nothing hold it well means important maintain some form uptrend or risk crash here . Most altcoins crypto market cardano has been volatile but able sustain levels .
In conclusion Cardano whales have shown an increase in activity despite recent market pullbacks and their transacted volume remains high above $100k mark from previous weeks creating potential for future positive price trends if able to break through resistance level of 035 .