Cardano (ADA) Records Gigantic Whale Volume, Incoming Price Reversal?


21 Nov 2023 4:10 PM

Cardano (ADA) outshines ETH in this important metric...

  • Cardano's whale transactions have increased by 11.55% with a volume of $9.55 billion, making it the second largest among the top 10 listed coins after Bitcoin.
  • Ethereum, the second largest by market cap, has only seen $3.3 billion in whale volume.
  • Cardano's whale acquisitions may be targeted towards governance engagements and on-chain staking.
  • Despite the increase in whale volume, Cardano's price is currently down 4.74% at $0.3745.

The article highlights the impressive increase in whale transactions for Cardano, indicating confidence in the protocol. However, it also mentions that this increase has not yet affected the price of ADA.

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You May Ask

How does Cardano's whale transaction volume compare to other cryptocurrencies?What factors may explain the increase in whale acquisitions for Cardano?What potential implications does the increase in whale transactions have for Cardano's price?What are some key performance markers that have contributed to Cardano's relevance as a blockchain network?

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