The whales of Cardano (ADA) are waking up with $13 billion in large transactions
The Cardano network is experiencing a kind of awakening: the ADA "whales" have increased the volume of large transactions by $13 billion. Such activity is noticeable, especially if we compare it with Ethereum's seven-day average of $5 billion for similar-sized transactions.
These numbers are staggering given Cardano's market capitalization and comparative transaction volume to Ethereum, and point to potentially significant changes in the behavior of large investors in the Cardano ecosystem.
Despite the flurry of whale activity, Cardano's price momentum remains somewhat muted. In recent weeks, the ADA price has been losing momentum, breaking through key support levels.
In particular, ADA fell below the 50-day EMA, a crucial indicator that often serves as a litmus test for short- and medium-term market sentiment. A loss of this support level is a bearish signal, often triggering a further decline or at least a period of consolidation.
