Cardano: ADA whales more confident than ever

Not a day goes by that we don’t talk about Cardano’s progress. This delights the whales to the point of causing them to replenish ADA frequently. Last weekend, network transactions were at their peak.

The Dance of the Whales ADA

More and more dynamic and efficientthe Cardano blockchain amazes observers, but not only.

In a recent publication, ZyCrypto revealed that the ADA whales were very active last weekend. This information, this media specializing in cryptocurrencies obtained it from a tweet from an analyst concerning the recent movements of the whales of Cardano.

In particular, he specified that:

  • Cardano recorded more than 3,000 transactions last week ;
  • at the same time, the ADA transactions over $100,000 experienced a rise on the network;
  • 1er April, similar transactions amounted to 4,000;
  • ten days later, there was an upward revision: 5,000;
  • right now, the data indicates that ADA whales are close to crossing that milestone.

This same analyst commented on this situation as follows:

Large ADA transactions are on the rise, suggesting Cardano network activity is heating up as institutional players and whales make their moves… This is a bullish sign that supports the ADA uptrend! »

Growing interest

ADA, XRP, ETH or SHIB whales do not put on a show for no particular reason. Do you remember the movements of the XRP whales last March when everyone was banking on a victory for Ripple against the SEC?

If the whales of Cardano are waking up, it is because there has indeed been progress within the network. Recent statistics published by the blockchain itself support this thesis.

Note the example of Grayscale Investments, whose holdings in ADA seem substantial. On April 6, this digital asset manager conducted a rebalancing of its funds for the 1er quarter of 2023. An opportunity for Grayscale to prove to the world its undying love for Cardano. The ADA still keeps its place in the Smart Contract Platform Ex-Ethereum Fund (GSCPxE Fund) of this company.

It is also worth mentioning these few figures:

  • the most recent fund component weightings for Cardano are 28.31%;
  • in March, the ADA posted monthly gains of around 17%;

In short, with the banks going wild, the ADA, XRP or ETH whales successively come out of their slumber. Even the BTC sleeper whales are embarking on the adventure.

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