Whale Patterns Reveal Cardano Bull Strategy as ADA Market Fundamentals Favor Price Storm ⋆ ZyCrypto
The post Whale Patterns Reveal Cardano Bull Strategy as ADA Market Fundamentals Favor Price Storm ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.
Advertisement     Retail investors have reduced their holdings, while whales’ growing positions hint at potential bullish momentum for ADA. Cardano (ADA) whales accumulate more coins and buy the dip to increase their holdings. These whales, whose wallets contain between 100 million and one billion ADA coins, bought more than 100 million ADA worth $110 million over the past few days, based on the data of Santiment shared by analyst Ali Martinez. Their cumulative holdings now stand at 3.26 billion ADA, suggesting a bullish outlook for the asset despite recent price corrections. ADA is trading at $1.06, down 4.16% in the last 24 hours. Whales Buying Big During ADA Dips Recent trends indicate that there is a deliberate plan among ADA whales. When Cardano temporarily pulled back from the $1 mark again, the whales took advantage of the situation to purchase even more. Advertisement   This pattern is similar to their action in November when ADA traded between $0.50 and $0.60. Whales bought tokens aggressively, followed by a cutback once the price spiked to $0.70 and $0.80. While the selling during pumps is notable, their net holdings continue to grow, reflecting an overall bullish stance. Over the past month, these investors have significantly increased their positions, capitalizing on market fluctuations. Whale holdings increased from October 18th to November 18th by 145%, reaching $12.11 Billion. ADA holders with more than $10 million increased this figure, while wallets with a $1-10 million balance increased 83% to $3.9 billion. Wallets with ADA ranging between $100,000 to $1 million also increased by 106% to $4.36 billion. On the other hand, the impact was less severe among retail investors who cut down their exposure by 39%, with only $285,490 invested. ADA holders with $10K – $100K also sold assets while reducing their holdings by 7.65%.…
Filed under: News - @ December 15, 2024 9:14 am