• Whale activity and accumulation of Cardano (ADA) has increased since the beginning of January 2023.
• Santiment reports that over 405.85M ADA was accumulated by “key sharks and whales”, driving the price increase from $0.24 USD to $0.41 USD.
• Despite various developments in the Cardano ecosystem, the price of ADA is currently trading at $0.39 USD with no clear indication yet as to which direction it will take in the coming weeks.

Cardano (ADA) Whales Buy-in

The Cardano network has seen a notable increase in whale activity since the beginning of January 2023, with high-volume whale accumulation potentially indicating a significant price shift on the horizon.

Price Surge

Santiment has reported that the price of Cardano (ADA) has surged over 65% from the start of 2023, increasing from $0.24 USD on January 1st to $0.41 on February 2nd due to an accumulated total volume of $162.34M.

High Whale Accumulation

As reported by Santiment, addresses holding 100K to 100M ADA now hold the highest combined volume since November 8th, 2022, reflecting a 12-week high for whale transactions since FTX collapsed.

Market Capitalization Surge

Data from CoinMarketCap reveals that Cardano’s market capitalization surged from $8.6B USD TO $13.8 during January 2023, allowing it to preserve its #8 rank.

„Boost or Bust?“

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