Cardano

Satoshi

Solana

Momentum

<p>A recent report from <a href="https://twitter.com/santimentfeed/status/1732509368921583851" target="_blank" rel="noopener noreferrer nofollow">on-chain analytics firm Santiment</a> suggests Cardano is showing signs of being bullish, even as broader altcoin prices fall. The analysis indicates small ADA holders have been selling at a loss to large “whales”, consolidating supply.</p>
<p>On Wednesday, Santiment tweeted that Cardano’s market value had risen 7% day-over-day, contrasting with drops across most other major cryptocurrencies. Intriguingly, they note that the total number of Cardano addresses has been declining.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="685" src="https://captainaltcoin.com/wp-content/uploads/2023/12/image-144-1024x685.png" alt="" class="wp-image-393107" srcset="https://captainaltcoin.com/wp-content/uploads/2023/12/image-144-1024x685.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-144-300x201.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-144-767x513.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-144-1536x1027.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-144-2048x1370.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-144-224x150.png 224w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-144-100x67.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-144-523x350.png 523w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-144-788x527.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-144.png 900w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p><em>Source: <strong><a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="Santiment" href="https://captainaltcoin.com/go/santiment/" data-shortcode="true">Santiment – Start using it today</a></strong></em></p>
<h4 class="wp-block-heading">Supply Consolidation to Whales</h4>
<p>As Santiment states: <em>“Typically, declining wallets is a sign of small holders capitulating &amp; selling to whales at a loss.”</em> This supply consolidation from smaller holders to larger ones can signify a bottoming out during bearish markets.</p>
<h4 class="wp-block-heading">Ongoing Positive Momentum</h4>
<p>The initial 7% gain highlighted by Santiment has extended even further, as it made 5% gains today, making the total surge a little above 18% for the past 7 days.</p>
<p>This continued positive momentum aligns with the indicators of smaller investors selling at losses and distribution shifting more heavily towards sizable “whale” holders during the recent crypto downturn.</p>
<p>Read also:</p>
<ul>
 <li><a href="https://captainaltcoin.com/bitcoin-btc-skyrocketed-the-last-three-times-this-bullish-signal-appeared/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin (BTC) Skyrocketed The Last Three Times This Bullish Signal Appeared</a></li>
 <li><a href="https://captainaltcoin.com/solana-loses-uptrend-analyst-warns-failure-to-hold-support-could-result-in-sol-falling-to-this-price/" target="_blank" rel="noopener noreferrer nofollow">Solana Loses Uptrend; Analyst Warns Failure to Hold Support Could Result in SOL Falling to This Price</a></li>
 <li><a href="https://captainaltcoin.com/end-of-year-crypto-boom-mantle-filecoin-and-rebel-satoshi-poised-for-growth/" target="_blank" rel="noopener noreferrer nofollow">End-of-Year Crypto Boom: Mantle, Filecoin, and Rebel Satoshi Poised for Growth</a></li>
</ul>
<p>In conclusion, Cardano’s rallying prices and consolidation of supply to larger holders points to a bullish outlook. Despite prevailing negative sentiment and falling valuations for altcoins in general, on-chain data suggests strong fundamentals for Cardano. An end to capitulation by small holders could signify that a bottom is in place, with recovering prices enticing prominent whales to accumulate more <a class="wpil_keyword_link" href="https://captainaltcoin.com/cardano-ada-price-prediction/" title="ADA" data-wpil-keyword-link="linked" target="_blank" rel="noopener noreferrer nofollow">ADA</a> holdings.</p>
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<p>The post <a href="https://captainaltcoin.com/cardano-bullish-despite-falling-altcoin-prices-as-more-small-holders-sell-ada-to-whales-at-a-loss/" rel="noopener noreferrer nofollow">Cardano Bullish Despite Declining Altcoin Prices as More Small Holders Sell ADA to Whales at a Loss</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Cardano Bullish Despite Declining Altcoin Prices as More Small Holders Sell ADA to Whales at a Loss

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