Cardano’s ADA Sees Surge in Whale Transactions and Price
Cardano’s ADA is currently experiencing a surge in whale transactions, with a 32% increase in transactions from ADA whales surpassing $1 million. The cryptocurrency has also seen a 5% increase in price over the past 24 hours, indicating positive momentum.
Data from Santiment shows that whale transactions spiked in November, with the first four days of the month recording a total of 3,213 large volume transactions. This number is higher than all transactions observed in October, signaling a significant increase in on-chain activity.
In addition to the rise in whale transactions, the transaction volume of ADA has also increased, reaching a three-month peak of 332.08. The cryptocurrency has been rallying since October, experiencing a 50% price surge from $0.24 to $0.37 at the time of writing.
The total value locked (TVL) in the Cardano ecosystem has also seen a substantial increase, growing by 384% from January of this year to over $240M. This growth can be attributed to new integrations and partnerships, such as the collaboration with the Institute of Blockchain Singapore (IBS) to provide crypto and blockchain education.
Hot Take: Cardano’s ADA Gains Momentum
Cardano’s ADA is showing strong positive momentum, with a surge in whale transactions and a significant increase in price. The cryptocurrency’s ecosystem value has also experienced remarkable growth, driven by strategic partnerships and educational initiatives. As altcoin season gains traction and Bitcoin continues to rally, ADA’s performance indicates a promising outlook for the future.
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