Cardano whales have given up.
September 14 Cardano's large transaction volume was 16.25 billion ADA; September 16
CryptoKits failed to reach 20 billion #Cardano transactions, putting #ADA prices at risk. Cardano's transaction volume fell from 19.5 billion to 18.44 billion, signaling the whale's exit.
the ADA price fell to $0.33, affecting the market-to-value-realized ratio (MVRV), which currently stands at -61.25%.
A bearish trend suggests that ADA could fall to $0.30 if whale activity does not push the price above $BTC two days ago, Cardano (ADA) was expected to rise to $0.40, but that probability has diminished as crypto whales have retreated.
While the long-term outlook for ADA remains interesting, recent #blockchain data suggests that the short-term outlook may be bleak.
Cardano's large transaction volume stood at ADA 16.25 billion on September 14, rising to ADA 19.5 billion on September 16, and it is estimated that the $20 billion milestone could be crossed for the first time this month.
It is known that large transaction volume indicates the number of #cryptocurrencies held by institutional investors or cryptocurrencies. It also measures transactions of $100,000 or more.
If it increases sharply, it indicates that large players are likely to have purchased a significant amount of cryptocurrency. Conversely, a decrease in the figure suggests that whales are less interested in tokens - in the case of Cardano, the large transaction volume fell from 19.5 billion to 18.44 billion at the time of publication, indicating that large holders are becoming less active.
Cardano's large transaction volume. If this decline continues, it suggests that the Cardano price may not get the boost needed to offset some of its recent losses.
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