Editor's PiCK
[Analysis] "Whales Continue Accumulating Cardano (ADA)... Potential for Bullish Rally Exists"
Summary
- It was reported that whales are continuously accumulating Cardano (ADA) recently.
- The ADA holdings accumulated from October 18 to November 18 increased by 145%.
- This accumulation by whales suggests the potential for a bullish rally in Cardano.
It appears that whales are accumulating Cardano (ADA).
According to Crypto Basic on the 5th (local time), virtual asset analyst Ali Martinez stated, "In the past 24 hours, whales have accumulated over 100 million ADA." Whales invested $110 million when Cardano's price exceeded $1 and currently hold 3.26 billion ADA.
The media reported, "Recently, whales have shown a pattern of buying ADA when it drops and selling when the price surges," adding, "Between October 18 and November 18, the ADA holdings of whales increased by 145%, reaching $12.11 billion." Furthermore, it was diagnosed that "the scale of whale purchases is gradually increasing, holding more than before Cardano surged, suggesting that a bullish rally for Cardano could continue for several days."
Meanwhile, as of 7:47 PM, Cardano is trading at $1.1616 on the Binance USDT market, down 4.36% from 24 hours ago.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
