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Cardano witnessed a significant surge in whale transactions exceeding $100K on April 29th. The transactions on that day amounted to 1,776, marking the highest daily count since November 8th, 2023.
Historically, such spikes in whale activity have correlated with potential price reversals, indicating possible shifts in market sentiment. However, this hasn’t been the case so far as the market has bled out.‘s whale transactions exceeding $100K in value has exploded to the highest amount since November 8th. These spikes in whale activity historically correlate with potential price reversals.
This figure, when compared, essentially points to the increased engagement within the Cardano ecosystem. To put it into perspective, this volume is about a third of Bitcoin’s current volume, more than five times Litecoin’s volume, and over sixteen times that of Dogecoin. The whale activity comes in the backdrop of a sell-off that dragged ADA’s price down by more than 5% to $0.429 at the time of writing.What is Renzo Protocol? The Liquid Restaking Primitive ExplainedAI Will be One of those Areas Where Blockchain has Genuinely Improved: Flare Network’s CEO Hugo Philion One Weekly Email Can Change Your Crypto Life.Disclaimer: Information found on CryptoPotato is those of writers quoted.
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