Recent analysis shows that activity on the Cardano (ADA) network has increased, with a sharp rise in large transactions and technical indicators, sparking investor interest.
Surge in ADA Large Transactions
According to recent data, the Cardano network executed over 137 transactions worth over $1 million within 24 hours. This volume of transactions indicates that large stakeholders are becoming more actively involved.
Cardano's Risk Index Matches Previous Bull Cycle Conditions
Cardano’s long-term risk index was at 43, a value last observed on October 17, 2020, when ADA was priced at approximately $0.10 and entered a prolonged rally that eventually lifted the price above $2.00.
Cardano Price Technical Setup Resembles 2020
As of writing, Cardano was trading at about $0.83, which is eight times its value at the last risk level of 43. Current market conditions suggest ADA may be entering a new accumulation zone similar to previous bull cycles.
Given the current trends in trading volumes and technical indicators, there is reason to believe that Cardano may replicate the success of previous growth cycles, particularly with the interest of large investors.
