Recent activities by large investors, known as whales, have led to a significant increase in the price of Cardano (ADA). In just 48 hours, these whales have acquired 180 million tokens, marking an important event in the cryptocurrency market.
Whales' Strategic Purchases
Data from popular analysts indicates that whales have accumulated 180 million ADA tokens recently. This stash is valued at over $160 million.
ADA Price Increase Following Powell's Speech
The price of ADA had dropped to $0.82 during a general decline in the crypto market. However, following Federal Reserve Chair Jerome Powell's speech, the price surged up to $0.94.
Analysts' Forecasts for ADA
Some analysts are predicting bullish scenarios for ADA, suggesting that if the asset can maintain a position at $1.16, it may reach $2.68 and beyond.
The actions of large investors and positive forecasts from analysts are making Cardano a hot topic in the cryptocurrency world, emphasizing the potential for significant market changes.
