Mithril

Ethereum

Cardano

Cryptocurrency

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 <p class="paragraph">Although the majority of assets in the cryptocurrency market have started to consolidate their gains, Cardano (ADA) has continued to trade in the green, and its on-chain activity suggests that more increases could await the eighth-largest cryptocurrency by market capitalization.</p>
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 <p class="paragraph">Specifically, Cardano has witnessed strong ADA address activity that has risen by 23% in the last three weeks, while whale transactions increased 32% during the same period, according to the data shared by the crypto and blockchain analytics platform <em>Santiment</em><em> </em>on November 2.</p>
 <figure class="wp-block-image aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/LiS46Fq_kB4kt4lspvXDecz1iRhb4fgKHeHzYOHfMvoqOjK6Qa4wjSTigXEtymHZUWKP4aUcoSnEyOHYg3TFXUgsbUT4L-Qt2YZnZ33FBaJuI3A4EbAl-cDGUuFC6vpYzqELGdallgPpGT7StbCpwMs" alt>
  <figcaption class="wp-element-caption"><em>Cardano active addresses and whale transactions. Source: </em><em>Santiment</em>
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 <p class="paragraph">At the same time, the <em>Santiment </em>team noted that this strong uptick in the on<a rel="noopener noreferrer nofollow" title="-chain" href="https://thebittimes.com/tag/chain.html">-chain</a> <a rel="noopener noreferrer nofollow" title="activity" href="https://thebittimes.com/tag/activity.html">activity</a> of Cardano had hinted at the <a rel="noopener noreferrer nofollow" title="bullish" href="https://thebittimes.com/tag/bullish.html">bullish</a> <a rel="noopener noreferrer nofollow" title="action" href="https://thebittimes.com/tag/action.html">action</a> seen on November 2, when ADA’s market cap soared 9% in the previous 24 hours, and as much as 36% in the two weeks leading up to Thursday.</p>
 <h2 class="wp-block-heading" id="h-cardano-price-analysis">Cardano price analysis</h2>
 <p class="paragraph">Meanwhile, this crypto asset was at press time changing hands at the <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> of $0.3176, up 2.37% in the last 24 hours, adding up to the 11.28% gain across the previous seven days, as well as advancing 23.5% in the past month, according to the most recent charts on November 3.</p>
 <figure class="wp-block-image aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/kw_N_1roK8bf9tdD2L-wYuUVA5tsjvIoRsF0_OeBClwmymAyOk3NRWho3mwG4lcQfOuuucwaZVrGq1IGecOJIWAI7TLhkv_7UaeVGnXSRqDRPb_KNzbqt5af5zJFs2V9py2NJQZi_8_W0yS8OPIAFbQ" alt>
  <figcaption class="wp-element-caption"><em>Cardano 7-day price chart. Source: </em><em>Finbold</em>
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 <p class="paragraph">It is also worth noting that the activity of dormant Cardano holders has recently recorded a massive increase, making October 30 the largest day for old ADA tokens moved in a year and a half, while its largest holders, a.k.a. ‘whales’ and ‘sharks’ with between 100,000 and 10 million ADA started to accumulate again.</p>
 <p class="paragraph">On top of that, the Cardano development team has continued to work on growing its network, publishing a new research paper on its scaling solution Mithril, as well as adding the non-custodial wallet platform Nami to its product family, over which it has received some criticism addressed by Cardano founder Charles Hoskinson.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/cardano-on-chain-activity-signals-bullish-ada-price-action-tbt68939.html">https://thebittimes.com/cardano-on-chain-activity-signals-bullish-ada-price-action-tbt68939.html</a></p>

Cardano on-chain activity signals bullish ADA price action

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