ADA Is Attracting Whale Interest as mentioned in my last post:
Cardano (ADA) has courted considerable media attention in recent weeks. The Djed stablecoin launch and a spike in total value locked (TVL) on the native DeFi smart contract platforms appears to have reignited a price rebound.
Among other bullish factors, Cardano has recently attracted a wave of buy pressure from whale investors. After a February sell-off, a cluster of whales holding 1 million to 100 million coins has entered accumulation mode. According to Santiment, between March 16 and March 29, this strategic group of whales increased their ADA holdings by 210 million coins worth $80 million.
When whales start buying, it implies that large investors are growing increasingly confident about the future price prospects of the token. Also, they can potentially influence other investors to enter the market, ultimately triggering a price upswing.
Considering the 1 million to 100 million ADA whale cluster’s history of timing recent price downtrends accurately, ADA holders can expect a price surge in the coming weeks.
In the same vein, the recent uptrend in the number of Caradano long-term addresses confirms the bullish stance. According to IntoTheBlock, the number of long-term holders has increased considerably since early February. And notably, the number of short-term traders has also declined.
As seen below, the number of Cardano wallets that have held their tokens for more than 1 year has increased from 1.97 million on Feb 5 to 2.23 million addresses as of March 29.
In other words: this could be the Great Awakening for ADA.
Technically speaking we do have a bunch of resistances at 0.393$ and 0.410$ but 52 cents could be soon. Given that the markets helps.
One Love,
The FXPROFESSOR
Cardano (ADA) has courted considerable media attention in recent weeks. The Djed stablecoin launch and a spike in total value locked (TVL) on the native DeFi smart contract platforms appears to have reignited a price rebound.
Among other bullish factors, Cardano has recently attracted a wave of buy pressure from whale investors. After a February sell-off, a cluster of whales holding 1 million to 100 million coins has entered accumulation mode. According to Santiment, between March 16 and March 29, this strategic group of whales increased their ADA holdings by 210 million coins worth $80 million.
When whales start buying, it implies that large investors are growing increasingly confident about the future price prospects of the token. Also, they can potentially influence other investors to enter the market, ultimately triggering a price upswing.
Considering the 1 million to 100 million ADA whale cluster’s history of timing recent price downtrends accurately, ADA holders can expect a price surge in the coming weeks.
In the same vein, the recent uptrend in the number of Caradano long-term addresses confirms the bullish stance. According to IntoTheBlock, the number of long-term holders has increased considerably since early February. And notably, the number of short-term traders has also declined.
As seen below, the number of Cardano wallets that have held their tokens for more than 1 year has increased from 1.97 million on Feb 5 to 2.23 million addresses as of March 29.
In other words: this could be the Great Awakening for ADA.
Technically speaking we do have a bunch of resistances at 0.393$ and 0.410$ but 52 cents could be soon. Given that the markets helps.
One Love,
The FXPROFESSOR
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