Cardano’s whale transaction has an important signal for ADA holders

ambcrypto.com:

In recent weeks, Cardano’s (ADA) price has seen a fall, with just a few encouraging signs. Despite this, there has been a notable rise in the number of whale transactions.

 Read Cardano (ADA) Price Prediction 2023-24

Santiment’s data showed that Cardano (ADA) whale activity has increased dramatically since February. The number of transactions involving whales (those worth more than $100,000) has increased dramatically.

Considering what was visible, it did not appear that the volume of transactions would be decreasing soon. As of this writing, almost 300 whale transactions, over $100,000, had already been made.

Source: Santiment

The increase in the size of ADA whale transactions points to increasing interest in the asset from institutional investors.

This new development will be a welcome change if it proves consistent, given Cardano’s years of struggle to establish itself.

Cardano has detailed its strategy for integrating blockchain technology into the world’s economic and social infrastructure for several years.

Cardano fans may find the proposals intriguing, but the current price range of ADA may be a driving factor in increased whale interest.

There may be a price increase on the horizon, and the current uptick in buying and stockpiling may be a prelude. Its Total Value Locked (TVL) has also increased, which could indicate ADA’s potential. Thus, getting in early at the current pricing might look ideal.

The start of major whale transactions did not result in a noticeable price change when looking at Cardano (ADA) on a daily timeframe.

But, it has been unable to acquire traction in the upward direction during the previous week, and persistent selling pressure continues to threaten its gains. As of this writing, it