Cardano (ADA) Skyrockets 1,218% in Whale Inflows, What’s Going On?

Cardano （ADA） has seen a dramatic increase in whale inflows, suggesting significant buying activity and potential price movements.

Points

• Cardano experiences a 1,218% surge in whale inflows.
• Whale inflows often indicate significant buying activity and price bottoms.
• ADA price shows stability with potential for future growth.
• The upcoming Chang upgrade may positively influence ADA’s market dynamics.

Significant Increase in Whale Inflows

Cardano （ADA） has witnessed a staggering 1,218% increase in whale inflows, indicating substantial buying activity. Large holders typically purchase on centralized exchanges and transfer their assets to cold storage, often signaling price bottoms.

Large Holders Inflow, Courtesy: IntoTheBlock

Spikes in whale inflows can suggest that large investors are buying in bulk after significant price drops. Given the current market conditions, this activity may indicate a price bottom for ADA, presenting a potential buying opportunity.

Cardano Advances Toward Chang Upgrade

The upcoming Chang upgrade is set to revolutionize Cardano’s governance by introducing on-chain voting and democratic rights. The upgrade will be released in two phases: Chang Upgrade 1, which adds governance features, and Chang Upgrade 2, which completes the on-chain governance functionalities.

The current ADA price of $0.3819, up 3.4% in the last 24 hours, reflects stability amidst market fluctuations. While the price has faced intense selling pressure recently, the Chang upgrade is expected to instill new investor confidence and potentially drive the price upwards.

Explanation

• Whale Inflows: The dramatic increase in whale inflows suggests significant buying activity and potential price stabilization for ADA.
• Chang Upgrade: The upcoming governance upgrade is a major development that could positively impact ADA’s market dynamics.
• Investor Confidence: The combination of whale inflows and the Chang upgrade may boost investor

confidence, leading to potential price increases.