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Cryptocurrency News Articles

Similar to Cardano (ADA) Decouples From the Market as Whale Transactions Fuel a Pre-Rally +26% Burst

Nov 21, 2024 at 03:15 am

Cardano's native token (ADA) has performed well despite the downturn in the broader crypto market. The token has seen a notable price gain amidst increased whale activity.

Similar to Cardano (ADA) Decouples From the Market as Whale Transactions Fuel a Pre-Rally +26% Burst

Cardano’s native token (ADA) has seen a remarkable rally in recent days, largely driven by a surge in whale activity and a strong institutional interest in the cryptocurrency.

Cardano’s native token (ADA) has seen a remarkable rally in recent days, largely driven by a surge in whale activity and a strong institutional interest in the cryptocurrency.

After breaking through a month-long price resistance at $0.80, ADA continued to surge, fueled by a 14% gain within 24 hours. This surge was accompanied by a 24% increase in daily transaction volume, reaching $2.27 billion, and a surge in large transactions, with those exceeding $100,000 hitting 9,824 last week, according to Santiment's data.

After breaking through a month-long price resistance at $0.80, ADA continued to surge, fueled by a 14% gain within 24 hours. This surge was accompanied by a 24% increase in daily transaction volume, reaching $2.27 billion, and a surge in large transactions, with those exceeding $100,000 hitting 9,824 last week, according to Santiment's data.

This level of large transactions was last seen five months ago. The recent surge in institutional interest has also been evident in the open interest for ADA futures, which reached $400 million, marking the first time since August.

This level of large transactions was last seen five months ago. The recent surge in institutional interest has also been evident in the open interest for ADA futures, which reached $400 million, marking the first time since August.

Chart: ADA institutional demand 24-Hour Price Chart | Source: CoinGecko

Chart: ADA institutional demand 24-Hour Price Chart | Source: CoinGecko

According to CoinGecko's data, ADA's price rose to $0.83 at the time of writing. This rally is particularly noteworthy considering the 1.2% decline in the global crypto market cap, which fell to $3.22 trillion in the past 24 hours, as reported by CoinGecko.

According to CoinGecko's data, ADA's price rose to $0.83 at the time of writing. This rally is particularly noteworthy considering the 1.2% decline in the global crypto market cap, which fell to $3.22 trillion in the past 24 hours, as reported by CoinGecko.

институциональный спрос на ADA достигает 5-месячного максимума, пока криптовалюта торгуется в плюсе институциональный спрос на ADA достигает 5-месячного максимуma, пока криптовалюта торгуется в плюсе институциональный спрос на ADA достигает 5-месячного максимуma, пока криптовалюта торгуется в плюсе институциональный спрос на ADA достигает 5-месячного максимуma, пока криптовалюта торгуется в плюсе институциональный спрос на ADA достигает 5-месячного максимуma, пока криптовалюта торгуется в плюсе институциональный спрос на ADA достигает 5-месячного максимуma, пока криптовалюта торгуется в плюсе институциональный спрос на ADA достигает 5-месячного максимуma, пока криптовалюта торгуется в плюсе институциональный спрос на ADA достигает 5-месячного максимуma, пока криптовалюта торгуется в плюсе институциональный спрос на ADA достигает 5-месячного максимуma, пока криптовалюта торгуется в плюсе институциональный спрос на ADA достигает 5-месячного максимуma, пока криптовалюта торгуется в плюсе институциональный спрос на ADA достигает 5-месячного максимуma, пока криптовалюта торгуется в плюсе институциональный спрос на ADA достигает 5-месячного максимуma, пока криптовалюта торгуется в плюсе институциональный спрос на ADA достигает 5-месячного максимуma, пока криптовалюта торгуется в плюсе институциональный спрос на ADA достигает 5-месячного максимуma, пока криптовалюта торгуется в плюсе институциональный спрос на ADA достигает 5-месячного максимуma, пока криптовалюта торгуется в плюсе институциональный спрос на ADA достигает 5-месячного максимуma, пока криптовалюта торгуется в плюсе институциональный спрос на ADA достигает 5-месячного максимуma, пока криптовалюта торгуется в плюсе институциональный спрос на ADA достигает 5-месячного максимуma, пока криптовалюта торгуется в плюсе институциональный спрод на ADA достигает 5-месячного максимуma, пока криптовалюта торгуется в плюсе институциональный спрос на ADA достигает 5-месячного максимуma, пока криптовалюта торгуется в плюсе институциональный спрос на ADA достигает 5-месячного максимуma, пока криптовалюта торгуется в плюсе институциональный спрос на ADA достигает 5-месячного максимуma, пока криптовалюта торгуется в плюсе институциональный спрос на ADA достигает 5-месячного максимуma, пока криптовалюта торгуется в плюсе институциональный спрос на ADA достигает 5-месячного максимуma, пока криптовалюта торгуется в плюсе институциональный спрос на ADA достигает 5-месячного максимуma, пока криптовалюта торгуется в плюсе институциональный спрос на ADA достигает 5-месячного максимуma, пока криптовалюта торгуется в плюсе институциональный спро

Institutional demand for ADA reaches a 5-month high while the cryptocurrency trades in the green Institutional demand for ADA reaches a 5-month high while the cryptocurrency trades in the green Institutional demand for ADA reaches a 5-month high while the cryptocurrency trades in the green Institutional demand for ADA reaches 5-month high while the cryptocurrency is trading in the green institutional demand for ADA reaches a 5-month high while the cryptocurrency is trading in the green institutional demand for ADA reaches a 5-month high while the cryptocurrency is trading in the green institutional demand for ADA reaches a 5-month high while the cryptocurrency is trading in the green, institutional demand for ADA reaches a 5-month high while the cryptocurrency is trading in the green, institutional demand for ADA reaches a 5-month high while the cryptocurrency is trading in the positive, institutional demand for ADA reaches a 5-month high while the cryptocurrency is trading in the green Institutional demand for ADA reaches a 5-month high while the cryptocurrency trades in the green Institutional demand for ADA reaches a 5-month high while the cryptocurrency trades in the green Institutional demand for ADA reaches a 5-month high while the cryptocurrency trades in the green Institutional demand for ADA reaches 5-month high while the cryptocurrency is trading in the green institutional demand for ADA reaches a 5-month high while the cryptocurrency is trading in the green institutional demand for ADA reaches a 5-month high while the cryptocurrency is trading in the green institutional demand for ADA reaches a 5-month high while the cryptocurrency is trading in the green, institutional demand for ADA reaches a 5-month high while the cryptocurrency is trading in the green, institutional demand for ADA reaches a 5-month high while the cryptocurrency is trading in the green, institutional demand for ADA reaches a 5-month high while the cryptocurrency is trading in the green Institutional demand for ADA reaches a 5-month high while the cryptocurrency trades in the green Institutional demand for ADA reaches a 5-month high while the cryptocurrency trades in the green Institutional demand for ADA reaches a 5-month high while the cryptocurrency trades in the green Institutional demand for ADA reaches 5-month high while the cryptocurrency is trading in the green institutional demand for ADA reaches a 5-month high while the cryptocurrency is trading in the green institutional demand for ADA reaches a 5-month high while the cryptocurrency is trading in the green institutional demand

News source:cardanofeed.com

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