Cardano’s blockchain witnessed a massive surge in large transactions, with 17 billion ADA transferred in a single day, indicating increased activity and interest from institutional investors.
Points
- 17 billion ADA transferred in 24 hours
- Large transactions defined as those exceeding $100,000
- Rising interest from institutional investors
- Speculation about upcoming upgrades and spot ETF approval
- Impact on ADA’s price and market trends
The Cardano （ADA） blockchain has experienced a remarkable surge in the number of large transactions conducted on the platform. Over a 24-hour period, the volume of transactions from large ADA holders exceeded 17 billion units, marking the largest recorded volume in a single day this week.
On-chain analytical platform IntoTheBlock defines large transactions as those exceeding $100,000. The rise in these large transactions indicates growing interest from whales and institutional players, reflecting confidence in ADA’s future prospects.
![Cardano Large Transaction Volume]（link-to-image）
Recent updates, such as the anticipated Cardano Chang Upgrade, may have sparked higher expectations for ADA. Large investors could be betting on this upgrade to fuel higher prices, thus increasing their investments.
Additionally, there is ongoing speculation that Cardano might be the next cryptocurrency to receive approval for a spot Exchange-Traded Fund （ETF） following the launch of a spot Ethereum ETF. Such investment vehicles are seen as safer options for traditional finance participants, potentially leading to increased adoption and price appreciation for ADA.
Currently, a smaller number of ADA investors are making profits compared to those out of profit. According to IntoTheBlock data, 32.77% of ADA holders are currently in profit, while 65.83% are out of profit. As of now, ADA’s price has increased by 5.9% in the past day, with the next critical support level lying in the $0.42 territory. Exceeding this threshold could lead to further price rises, while a fall below this level may cause significant losses for investors.
Explanation
- Large Transactions: In cryptocurrency, transactions involving substantial amounts of assets, typically defined as those exceeding a certain monetary value （e.g., $100,000）.
- Whales: Large investors who hold significant quantities of a particular cryptocurrency, capable of influencing market prices through their transactions.
- Spot ETF （Exchange-Traded Fund）: A fund that tracks the price of an underlying asset, such as a cryptocurrency, allowing investors to gain exposure to the asset without owning it directly.