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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/cardano-whales-accumulate-ada-tokens" rel="noopener noreferrer nofollow">Cardano Whales Accumulate ADA Tokens</a><br></p>
<p style="text-align: justify">Cardano has experienced a relatively quiet month in the cryptocurrency <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank">market</a>, but notable accumulation activities by major <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank">investors</a> have been observed. Recent <a href="https://newslinker.co/" rel="noopener noreferrer nofollow" target="_blank">data</a> from IntoTheBlock indicates that Cardano whales, defined as entities holding between 100 million and 1 billion ADA, have increased their holdings by 11% last month.</p>
<h2 id="what-are-ada-whales-up-to">What Are ADA Whales Up To?</h2>
<p style="text-align: justify">This accumulation could suggest growing confidence or strategic positioning among these significant investors. Currently, this group controls 6.71% of ADA’s total supply, emphasizing their substantial influence on the Cardano ecosystem. Recent weeks have seen a gradual rise in whale activity, historically associated with potential market shifts.</p>
<h2 id="why-did-ada-show-modest-recovery">Why Did ADA Show Modest Recovery?</h2>
<p style="text-align: justify">Contrary to typical trends, ADA mirrored broader market movements, showing a slight recovery on Thursday. ADA traded at $0.4594, marking a 1% increase over the past 24 hours. Experts predict ADA might reach $7.80, paralleling its 2021 surge. Bullish forecasts even suggest it could hit $1.70 or climb to a ‘parabolic’ peak of $10, reflecting strong growth expectations.</p>
<h2 id="potential-gemini-listing-impact">Potential Gemini Listing Impact</h2>
<p style="text-align: justify">Market speculations about ADA being listed on the Gemini exchange have positively impacted its price. A listing on the US-based crypto exchange could drive significant price movements for ADA.</p>
<h2 id="user-activity-trends">User Activity Trends</h2>
<p style="text-align: justify">Despite positive price forecasts, user activity on the Cardano network has dropped since March. According to Artemis, daily transactions have decreased to around 50.7 thousand from approximately 96 thousand two months ago. Additionally, daily active addresses briefly fell below 24 thousand this month. These declines raise concerns about the network’s current usage and adoption rates.</p>
<h2 id="actionable-insights">Actionable Insights</h2>
<p style="text-align: justify">– Monitor whale activity, as it may indicate upcoming market shifts.<br> – Assess the impact of potential exchange listings on ADA’s price.<br> – Evaluate the network’s user activity trends for insights into adoption rates.<br> – Consider the historical context of ADA price movements for future predictions.</p>
<p style="text-align: justify">In conclusion, while Cardano whales are amassing ADA tokens, the network’s usage metrics present a more nuanced picture. Investors should weigh both whale activity and user trends to gauge Cardano’s future trajectory.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/cardano-whales-accumulate-ada-tokens" rel="noopener noreferrer nofollow">Cardano Whales Accumulate ADA Tokens</a></h5>

Cardano Whales Accumulate ADA Tokens

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