Cardano Bulls Can't Be Broken

Coinglass data shows that investors are actively withdrawing ADA from crypto exchanges. On Monday, November 25, the outflow was -$63 million, and on Tuesday - a little less, -$40 million. It turns out that Cardano bulls withdrew about $100 million from exchanges in just two days.

Usually, such dynamics indicate that investors are inclined to hold the asset rather than sell it. This is good support for the cryptocurrency rate. If outflows from trading platforms continue to increase, the ADA price may recover in the coming days. Meanwhile, the Mean Dollar Invested Age (MDIA) also supports the bullish forecast. This indicator measures the average age of all tokens on the blockchain, weighted by the average purchase price. If the indicator grows, it means that most tokens have not changed owners for a long time. Consequently, their price practically does not change, since they are “frozen” in circulation. $LINK $BONK

In the case of Cardano, on the contrary, the MDIA values ​​are decreasing. This means that previously inactive tokens have started to be actively traded. This can lead to an increase in price, especially if buying interest increases.