![While Cardano’s [ADA] whales are whaling, what is its price up to](https://i.headtopics.com/images/2022/8/6/cryptoamb/while-cardano-s-ada-whales-are-whaling-what-is-its-price-up-to-1555924978645835776.webp)
For any cryptocurrency project, addresses holding between 10,000 to 10,000,000 of the project’s tokens are key stakeholders. Their trading activities are a major determinant of what to expect from the token’s price. According to data from Santiment, addresses holding between 10,000 to 10,000,000 of Cardano’s ADA tokens have intensified the accumulation trend over the last […]
tokens have intensified the accumulation trend over the last few days. Since 27 July, these addresses have added a combined 0.46% of ADA’s existing supply to their portfolios. This represents accumulation of ADA worth over $138 million in about ten days.Despite the mild uptick in whale accumulation of ADA since 27 July, the alt’s price has consolidated chiefly in a tight range since. Exchanging hands at $0.5174 at press time, ADA managed to hike from the $0.
Interestingly, despite an increase in whale accumulation over the last ten days, trading activity within that period logged a gradual decline. At 520.56 million at the time of press, the token’s trading activity dropped by 47% since a high of 1.1 billion on 27 July. On the daily chart, ADA’s Relative Strength Index and Money Flow Index were spotted flattening out at 56.18 and 62.01, respectively. This indicated a decline in buying pressure.Source: TradingViewAccording to Santiment, during the period under review, ADA’s 30-day MVRV hiked to +5.499%. This suggested that a sizeable number of investors had seen profit during this time.
The last ten days have been marked by a decline on the social front too. Its social dominance and social volume declined by 31% and 89%, respectively.Subscribe to get it daily in your inbox.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Aerin Lauder talks 10 years of fragrance memoriesFor Aerin Lauder, some of her earliest scent memories are ones that include her grandmother, the legendary beauty entrepreneur Estée Lauder.
Read more »
10/3 podcast: Canadian patients fighting for psilocybin access sue federal governmentA group of patients have launched a charter challenge to help them get access to what they say is life\u002Dsaving treatment of psilocybin mushrooms.
Read more »
10/3 podcast: Canadian patients fighting for psilocybin access sue federal governmentA group of patients have launched a charter challenge to help them get access to what they say is life\u002Dsaving treatment of psilocybin mushrooms.
Read more »
Aerin Lauder talks 10 years of fragrance memoriesFor Aerin Lauder, some of her earliest scent memories are ones that include her grandmother, the legendary beauty entrepreneur Estée Lauder.
Read more »
10 things to do this weekend in TorontoIt’s another summer weekend in Toronto with lots to do and see and eat.
Read more »
Aerin Lauder talks 10 years of fragrance memoriesFor Aerin Lauder, some of her earliest scent memories are ones that include her grandmother, the legendary beauty entrepreneur Estée Lauder.
Read more »