Cardano News: ADA Coin Sees Sudden Interest from Crypto Whales; Time To Buy?

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Cardano News: In 2023, Cardano (ADA) token is gradually staging a rebound as it has reclaimed about a third of its lost value. It is interesting to note that ada is one of the best-bought assets this year. WhaleStats, the Crypto data tracker, reported that Cardano has flipped Ethereum’s ETH for the most traded token among the top 500 BNB Chain whales.

ADA is becoming a new crypto whale favorite.

According to WhaleStats, Cardano’s ADA ranks among the purchased assets for the 500 biggest BSC whales in the last 24 hours. This is one of the cryptocurrencies that remained relatively intact in the midst of the FTX collapse.

On February 04, 2023, Santiment, an on-chain analytics platform, reported that the price of Cardano (ADA) has surged over 65% from the start of 2023 mainly due to ADA investors accumulating a total volume of $162.34M.

#Cardano’s price is up +65% in 2023, and finfish. Addresses between $100,000 and $100,000 now have the largest combined portfolios since November. Today, $100,000 in whale transactions reached their highest level in 12 weeks. https://t.co/Od5c4Qw0qn pic.twitter.com/LmvmXnMZQe

— Santiment (@santimentfeed)

Cardano Price to Surge?

Cardano (ADA) is showing signs of recovery as its price surged nearly 60% in the past 30 days. At the time of writing, the value of cardano (ada) is $0.387, an increase of 3.37% over the previous seven days.

On 30 December 2022, the price of Cardano (ADA) was $0.248. Since then, the value of cardano (ada) has increased by 58.3 per cent. This impressive increase can be attributed in large part to the major players (sharks and whales) in the crypto market.

Clearly, the increased accumulation by these major investors increases the value of ada. At the same time, the growing popularity of cardano and its strong performance make it a suitable candidate for your investment.

Also Read: Cryptocurrency Prices Today: 3 Hidden Gems To Buy On This Dip

Disclaimer: The information provided in this article is solely the author’s opinion and not an investment advice