Cardano (ADA) has recently attracted the attention of large investors. Market analyst Ali Martinez reports that whales acquired over 200 million ADA in the past 48 hours.
Accumulation Signals from Large Wallets
Recent acquisitions have been observed among wallets holding between 100 million and 1 billion ADA. This accumulation happens against the backdrop of recent price swings, indicating that high-net-worth investors are preparing for potential upside. Historical data suggests that such whale buying often precedes bullish trends, fostering optimism for short-term gains.
Connection Between Cardano and Bitcoin
At the Rare Evo conference, Cardano founder Charles Hoskinson stated that the network is an ideal smart contract extension for Bitcoin. He emphasized that both Cardano and Bitcoin utilize the UTXO (Unspent Transaction Output) model, which enhances security and scalability. Hoskinson noted that this design also improves interoperability across blockchain ecosystems and projected strong growth for Cardano’s decentralized finance sector.
Current Technical Levels of ADA
As of publication, ADA is trading at $0.8281, reflecting a 3.33% gain in the past 24 hours. The recent bounce occurred from the 61.8% Fibonacci retracement level at $0.7750, supported by an ascending trendline. Immediate resistance is at the $0.8475 level, with a breakout above potentially leading towards $0.9388. Indicators such as the RSI and MACD confirm the current bullish momentum.
The interest from large investors in Cardano and positive signals from technical analysis could signal potential growth for ADA in the future. Charles Hoskinson's remarks underscore Cardano's prospects as a competitive player in the decentralized finance market.
