Cardano （ADA） sees a surge in whale activity with 17 billion ADA tokens traded, indicating potential for a price recovery ahead of the Chang hard fork.
Points
- Cardano sees significant whale activity with 17 billion ADA traded.
- Upcoming Chang hard fork expected to boost network activity.
- Whale accumulation suggests growing confidence in ADA.
Cardano （ADA） is at a pivotal moment with the upcoming Chang hard fork, which follows the recent upgrade of its node validation software. As the Cardano ecosystem gears up for this major update, the network is experiencing a surge in activity that could determine its trajectory in the coming weeks.
Whales Making Moves: On-chain data shows a significant increase in whale transactions, with 17 billion ADA tokens traded recently. This spike in activity was noted on IntoTheBlock’s dashboard, indicating a trading volume of $7 billion worth of tokens exchanged among whale addresses.
The trend of whale accumulation is further supported by the Large Holders Inflow metric, revealing a 579% increase in inflows over the past seven days and a 173% increase over the past 30 days. This accumulation phase among ADA whales reflects their growing confidence and long-term commitment to the Cardano network.
解説
- The surge in whale activity and accumulation of ADA tokens indicates strong confidence in the upcoming Chang hard fork and the broader Cardano ecosystem.
- The significant increase in trading volume among large holders suggests that whales are positioning themselves for potential price appreciation.
- Investors should monitor the ongoing developments and whale activity closely, as these indicators can provide valuable insights into market sentiment and future price movements.
- The successful implementation of the Chang hard fork and subsequent network upgrades are likely to enhance Cardano’s functionality and appeal, potentially driving long-term growth.