🚀🚀🚀Cardano Surges with $13B Daily Transaction Volume as Bulls Return💣💣💣

Cardano (ADA) is experiencing a resurgence in whale activity, with daily transactions on the network reaching an impressive average of $13 billion over the past week. This uptick in large transactions underscores growing interest in the cryptocurrency and its underlying network.

On-chain data from blockchain analytics platform IntoTheBlock, sourced from thecryptobasic.com, confirms this notable trend. Cardano's daily transaction volumes, particularly those exceeding $100,000, have surged to an average of $13.84 billion over the past seven days. This places Cardano in close competition with Bitcoin (BTC) in terms of daily transaction volume.

Despite fluctuations in price and market sentiment, Cardano's transaction volume has remained consistently high, indicating sustained interest from institutional investors or significant network activity. This surge in volume could signal growing confidence in Cardano's project and ecosystem.

Notably, large holders of ADA, particularly those with balances ranging from 100,000 to 100 million ADA, continue to accumulate the cryptocurrency. This accumulation trend suggests a positive outlook for Cardano's future performance.

Market analysts, including Cobra Vanguard, are optimistic about Cardano's price trajectory, projecting multiple price targets. With targets ranging from $0.52 to $0.775, analysts anticipate continued bullish momentum for Cardano, provided it breaches key resistance levels.

Disclaimer: The information provided is for informational purposes only and should not be construed as financial advice. Readers are encouraged to conduct their own research before making any investment decisions. The views expressed in this article are those of the author and do not necessarily reflect the opinions of The Crypto Basic.