Cardano (ADA) Price Rises as Whale Activity Increases 145%
Cardano (ADA) performed well today rising by more than 12%, with its price reaching a daily high of $0.83. This increase comes along with a big 145% jump in whale activity over the past month.
ADA has also gained almost 54% in the last week, making it one of the top-performing altcoins. Investors are now looking forward to ADA possibly reaching the important price of $1. Crypto expert Ali Martinez has predicted that ADA might even reach $6 in this market cycle.
Source: X
The rise in Cardano’s price is mainly due to an increase in the number of whales buying ADA. Wallets holding over $10 million in ADA have increased their holdings by 145.72% in just one month. Martinez pointed out that this big increase in whale accumulation is helping push the price of ADA higher. As of November 18, whales now hold $12.11 billion worth of ADA.
Cardano is also seeing growth in its decentralized finance (DeFi) space. According to Defillama , the Total Value Locked (TVL) in Cardano’s DeFi projects has risen to $479.8 million, getting close to its highest level ever.
In addition to whale activity and DeFi growth, Cardano’s market activity is also strong. Data from the platform Santiment shows that ADA is moving away from the rest of the altcoin market, becoming stronger compared to Bitcoin. Santiment also reported that the ADA/BTC pair saw a 26% price jump last time similar activity occurred in June.
Martinez also pointed out that the number of large transactions in ADA has increased by 297% in the last two weeks. Large transactions reached a total of $22.56 billion, showing that big investors are becoming more active in Cardano.
Source: Ali_Chart
Martinez believes that Cardano’s price could follow a pattern similar to the 2020 bull run, with ADA potentially rising by 2000% and reaching $6. He has shared charts showing this possible price movement, with a market peak expected by 2025.
At the moment, ADA is trading at $0.8003, with a market cap of $28 billion. Its trading volume has also increased by 163%% to $23.78 billion, according to CoinMarketCap .
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Hackers are targeting Australia’s largest pension funds
Share link:In this post: Hackers targeted major Australian superannuation funds, stealing $500,000 from a few accounts and exposing personal data. Authorities and financial institutions are responding to the breach, urging members to check accounts and update passwords. Credential stuffing using stolen passwords is suspected in the attacks, prompting warnings to use unique logins and enable multifactor authentication.
Meta to end third-party fact-checking in U.S. on April 7
Share link:In this post: Meta will shut down its U.S. third-party fact-checking program on April 7, 2025, ending partnerships with groups like PolitiFact. It will be replaced by Community Notes, a system that lets users add context to posts without triggering penalties. Zuckerberg criticized the old system as biased and overly censorious, and said the change aims to support free speech. Meta is also relocating its moderation teams to Texas, a move some experts say is politically motivated.
Crypto Today: Altcoins Find New Buyers as Microsoft, Apple and Nvidia Lose $1 Trillion in 3 Days
Cardano Approaching First Death Cross: What’s Next for ADA Price?
Trending news
MoreCrypto prices
More
