Cardano (ADA) gains momentum in whales' accumulation alongside Bitcoin and Ethereum
In the last seven days, the crypto market has been witnessing a significant surge in whale activity, with Bitcoin , Ethereum and According to the data, Cardano, in particular, has seen a remarkable uptick in whale transactions, recording a staggering 16% increase in the past seven days. Similarly, Ethereum has witnessed a substantial surge of 14% in mega transactions involving ETH during the same period.
While the news was later debunked, market participants and experts are still anticipating the arrival of official spot ETFs soon, shifting the sentiment to"risk-on" and causing notable price fluctuations.It is crucial to note that the surge in whale transactions should not be directly linked to an imminent price surge. Large investors might be leveraging this opportunity to offload their holdings and take profits, leading to increased whale activity across the market.
He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.ETH Supply on Exchanges Drops to Lowest Since 2015 Genesis as This Event HappenedSolana Shows Staggering 214% Year-to-Date Rise, Outperforming ADA
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