Cardano

April

Epic

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
<a href="https://u.today/cardano-ada-price-trend-signals-massive-2084-upside" rel="noopener noreferrer nofollow">Cardano (ADA)</a> has witnessed an extraordinary surge in large holder inflows, a metric that tracks funds going into whale addresses. This marks a significant development in Cardano's quest to maintain its position among the top 10 cryptocurrencies by market capitalization.
According to <a href="https://app.intotheblock.com/coin/ADA/deep-dive?group=all&amp;chart=all" rel="noopener noreferrer nofollow">IntoTheBlock</a> data, Cardano (ADA) is seeing a staggering 28,372% surge in large holder inflows, which skyrocketed from 54.93 million ADA on April 13 to 6.32 billion ADA on April 14.
Large holders' inflows might indicate that considerable buying activity is taking place. This is the case because whale addresses buy on centralized exchanges and subsequently transfer their purchases to cold storage. <img alt="IntoTheBlock" data-entity-type="file" data-entity-uuid="eede8cc4-ad5b-4450-a6cc-ce7b7edc0046" src="https://u.today/sites/default/files/inline-images/2024%2015%2004%201111.PNG"><a href="https://app.intotheblock.com/coin/ADA/deep-dive?group=all&amp;chart=all" rel="noopener noreferrer nofollow">Cardano (ADA) Large Holders Inflow, Courtesy: IntoTheBlock</a>
Spikes in Large Holders Inflows can also indicate price bottoms because whale addresses prefer to buy in large quantities after significant corrections.
The ADA price is attempting a rebound after falling to a low of $0.4 on April 13, the lowest level observed since early December 2023. At the time of writing, ADA was up 5.61% in the last 24 hours to $0.48, sustaining its rebound for the second day.
<h2 id="cardano-in-fierce-battle-to-retain-top-10-spot">Cardano in fierce battle to retain top 10 spot</h2>
The battle for dominance among the top 10 cryptocurrencies by market capitalization is heating up, with projects jostling for position and market share.
Cardano (ADA) is struggling to maintain its coveted position among the top 10 cryptocurrencies by market capitalization. <a href="https://u.today/cardano-to-1-bulls-brace-for-epic-takeover-of-347-billion-ada-barrier" rel="noopener noreferrer nofollow">Cardano</a> currently has a market capitalization of $17.08 billion, making it the 10th-largest cryptocurrency.
While the surge in large holder inflows might seem positive, it is worth keeping these whale address outflows in mind as entities can often transfer out funds they just received for business purposes.
In this regard, the Large Holders Netflow indicator, which provides an idea of the change in the positions of whales, suggests accumulation, being up 1,900%.
In a significant milestone, Cardano has hit 89 million network transactions, a testament to the increasing activity and utilization of the blockchain.

Cardano (ADA) Sees Epic 28,372% Inflow Surge; Where Will This Lead?

Obsah

U_Today

Ďalšie články zverejnené 15. 4. 2024

2 silver-backed cryptocurrencies to invest in as demand skyrockets

Bitcoin Halving Predicted to Prompt Substantial Miner Sales

Xverse wallet releases guide on Runes, preps for Bitcoin halving

Arthur Hayes: 'That Was The Dip, Now We Rip,' Asks 490K Followers What Coins To Buy

Solana climbs 8% in 24 hours: Is the new network upgrade the reason?

Will Bitcoin pump after halving? Analysts look at an additional $1T market cap

Pripojte sa k nášmu bezplatnému bulletinu a získajte denné aktualizácie kryptomien!