Cardano (ADA) demonstrates stability amidst recent price growth and changing activity from major investors, known as 'whales'.
Current Situation in the Cardano Market
Cardano (ADA) has shown modest stability in trading despite an overall rise of over 6% in the past week. Earlier this month, the asset experienced a significant decline due to a downturn in the crypto market and sell-offs by major holders.
Whale Activity and Price Influence
Recent information from analyst Ali Martinez highlights that after prior sell-offs, there has been an increase in whale purchases. Over 70 million ADA has been acquired in the past four days. According to Santiment, wallets holding more than 1 million ADA have been actively accumulating since late November 2023.
The Future of Cardano: Analyst Predictions
Martinez compared ADA's current trajectory to the 2020-2021 cycle, suggesting a potential for a new parabolic rally. Cardano founder Charles Hoskinson also noted that liquidity could shift from meme coins to more traditional cryptocurrencies, increasing demand for ADA.
Thus, the activity of major investors and analytical forecasts create positive expectations for Cardano, although the extent of ADA's growth remains impacted by current market conditions.
