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Santiment: Increased Whale Action Pushes ADA Up by 59% in 2023
- Cardano’s ADA has climbed by 59% since the beginning of January 2023.
- ADA price rally is influenced by increased whale activity on the network.
- Up to 36 new addresses with 1 million to 100 million ADA were added to the cardano network since the beginning of 2023.
Cardano has been up by 59% since the beginning of the year, with the number of wallets holding large amounts of ADA tokens increasing significantly. On-chain data from Santiment shows that the number of addresses containing between one million to one hundred million ADA tokens has risen by 36.
#Cardano whale numbers have risen in 2023, and large transactions have notably broken out. The last time there were this many $100k+ $ADA transactions was in May, & its price jumped +36% from the beginning of that week until its local top in early June. https://t.co/GTuBl9DKWA pic.twitter.com/9GSnMqlomB
— Santiment (@santimentfeed) February 7, 2023
The latest influx of large token holders is the highest whale activity that the Cardano network has seen since the middle of May 2022, covering nine months. The impact of this development is a 59% rise in the price of ADA since the beginning of January…
The post Santiment: Increased Whale Action Pushes ADA Up by 59% in 2023 appeared first on Coin Edition.
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