Whales take over Cardano as “large” transactions grow 3%
According to the IntotheBlock analysis, Cardano recorded a slight increase of 3% in “large” transactions. At press time, Cardano had changed hands at $ 1.24, down 0.6% in the last 24 hours.
Source: TradingView
“Large Transactions” tracked by IntoTheBlock refer to transactions of approximately 100,000 or more. IntoThe Block analysis shows Cardano’s current whale concentration at 6%, suggesting that a handful of the richest ADA holders control large amounts of the total token supply.
Source: IntoTheBlock
Hence, whale activity could be very important to ADA. Cardano ranks 7th with a current market cap of $ 41 billion.
ADA price has steadily declined after peaking at $ 2.9 on September 2. ADA’s multi-month decline has pushed the daily RSI, a momentum indicator, into oversold territory.
In addition, a fall in price also creates an “accumulation zone”. Whales often take advantage of periods of price declines or macro-consolidation to buy slumps in their favorite tokens at a discount.
Meanwhile, the development of the Cardano blockchain continues. Analytics firm Santiment notes that Solana, Polkadot, and Cardano are leaders in daily growth.
The source: Twitter
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Whales take over Cardano as “large” transactions grow 3%
According to the IntotheBlock analysis, Cardano recorded a slight increase of 3% in “large” transactions. At press time, Cardano had changed hands at $ 1.24, down 0.6% in the last 24 hours.
Source: TradingView
“Large Transactions” tracked by IntoTheBlock refer to transactions of approximately 100,000 or more. IntoThe Block analysis shows Cardano’s current whale concentration at 6%, suggesting that a handful of the richest ADA holders control large amounts of the total token supply.
Source: IntoTheBlock
Hence, whale activity could be very important to ADA. Cardano ranks 7th with a current market cap of $ 41 billion.
ADA price has steadily declined after peaking at $ 2.9 on September 2. ADA’s multi-month decline has pushed the daily RSI, a momentum indicator, into oversold territory.
In addition, a fall in price also creates an “accumulation zone”. Whales often take advantage of periods of price declines or macro-consolidation to buy slumps in their favorite tokens at a discount.
Meanwhile, the development of the Cardano blockchain continues. Analytics firm Santiment notes that Solana, Polkadot, and Cardano are leaders in daily growth.
The source: Twitter
Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews
Annie
According to U.today
Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page
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