Cardano (ADA) experienced a surge in buying activity from large investors, contributing to its price rise during a recent dip.
Increase in Cardano whale activity
Large investors have been actively purchasing ADA during the recent price dip, leading to a price increase of over 21% in the past week. During this period, whales accumulated over 130 million ADA, with the major accumulation phase starting in early November and lasting until November 12.
Current ADA market trends analysis
After a momentary rise to $1.10, there was a slight decline in held ADA, possibly due to profit-taking. However, the buying interest among large holders resumed when prices fell to $0.80.
Long-term prospects for Cardano
Interest in ADA by large holders is emphasized not only by short-term metrics but also by significant long-term inflows. A 30-day inflow surge of 51,478.87% reflects increasing confidence in Cardano.
The consistent interest from large investors in ADA underscores growing confidence in the cryptocurrency, suggesting continued development.
