ADAV Whale who dumped $3M ADA tokens last week has made his first purchase since then
The post ADAV Whale who dumped $3M ADA tokens last week has made his first purchase since then appeared on BitcoinEthereumNews.com.
In the world of cryptocurrency trading, large transactions by prominent investors, often referred to as whales, can send ripples through the market, triggering speculation and analysis among traders and enthusiasts alike. Recently, a significant move caught the attention of the crypto community: a Cardano whale dumped $3 million worth of ADA tokens, only to resurface with a notable purchase in Retik Finance (RETIK). This manoeuvre signals a strategic shift in the investor’s portfolio and sheds light on the dynamics of the crypto market. Cardano’s Downward Trend and the Whale’s Sell-off The decision to offload $3 million worth of ADA tokens comes at a crucial juncture for Cardano (ADA), which has been experiencing a downward trajectory in its price. Following its peak at $0.69 in December of the previous year, ADA struggled to regain momentum and has since faced persistent losses, particularly evident throughout January 2024. Currently trading at $0.48, ADA has witnessed a substantial 35% drop from its peak, prompting concerns among investors. On January 23rd, ADA briefly dipped below the long-term support zone of $0.46, highlighting the vulnerability of its price trend. As it approaches the convergence point of horizontal support and descending resistance lines, the crypto community awaits a decisive moment for ADA’s trajectory. Will it manage to break through the resistance and initiate an upward climb, or will it succumb to further downward pressure, edging closer to the support zone? This uncertainty sets the stage for strategic moves by investors, including the whale behind the $3 million ADA dump. The Resurgence: Whale’s Entry into Retik Finance (RETIK) Amidst the turbulence in the ADA market, the whale in question has reemerged with a significant purchase: Retik Finance (RETIK). Acquiring Retik Finance tokens at $0.12 marks the investor’s first move since the substantial sell-off of ADA. Retik Finance, a…
Filed under: News - @ February 18, 2024 9:22 am