The post Cardano Whales Are Buying More ADA, Here’s Why Price Might Skyrocket appeared on BitcoinEthereumNews.com.

Cardano (ADA) has remained in the spotlight since Grayscale Investments filed for a spot ETF application to track the price of the coin. To complement its growth in the past few days, Santiment, a top data service provider on the market, has shed light on how ADA whales are behind its most sustained growth streak in over a year. Cardano whales unleashed According to a new insight from Santiment, ADA saw an 11% jump in market capitalization when most altcoins fell. The outlet pointed out that the actions of whales and sharks are worth watching on the network. Related Since at least late November 2023, Santiment noted that wallets with over one million ADA have sustained their buying streak. These wallets have accumulated 1.41 billion ADA worth over $1.096 billion. This ADA accounts for 2.35% of the entire supply. These Cardano whales have maintained a 15-month streak in their purchase of ADA. 🐳📈 Cardano’s market cap has recovered by +11% on a day where most cryptocurrencies have retraced. One thing to continue watching is the continued behavior of whales and sharks. Wallets holding at least 1M $ADA have been consistently accumulating since late November of 2023,… pic.twitter.com/pTHCqRCRC7 — Santiment (@santimentfeed) February 11, 2025 Throughout this period, there has been a visible impact on the coin’s price. The Santiment data shows that amid the volatility of the past months, the ADA price has jumped by 107% since the whale accumulation began. The accompanying chart offers deeper insights into the whale trend. The accumulation from one million ADA holders skyrocketed as the coin’s price dropped from its historic high around September 2021. More ADA price rally ahead? The growth trend of Cardano is not completely bullish. It faces some corrections along the way to show its volatility. However, ADA whales have more reasons to…

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Filed under: News - @ February 12, 2025 11:19 am