#ADAUSDT ( Cardano ) Crypto Whales Fall Short of 20 Billion Cardano Transactions, Putting ADA Price at Risk
In Brief
Cardano's large transaction volume fell from 19.50 billion to 18.44 billion, signaling whale withdrawal.
ADA's price dropped to $0.33, impacting the Market Value to Realized Value (MVRV) ratio, now at -61.25%.
A bearish trend suggests ADA may drop to $0.30 unless whale activity boosts the price above $0.35.
Two days ago, Cardano (ADA) was set for a rally toward $0.40, but that potential has diminished as crypto whales have stepped back.
While ADAâs long-term prospects remain interesting, recent on-chain data suggests the short-term outlook might be bleak.
Cardano Whales Surrender
On September 14, Cardanoâs large transaction volume was 16.25 billion ADA. By September 16, the volume had increased to 19.50 billion, with speculation suggesting that it could hit the 20 billion milestone for the first time this month.
For context, large transaction volume provides an idea of the amount of cryptocurrencies transacted by institutional players or crypto whales. Furthermore, this metric measures transactions worth $100,000 and above.
When it spikes, it indicates that large players have likely bought a significant amount of the cryptocurrency. Conversely, a decrease suggests declining whale interest in the token. In Cardanoâs case, the large transaction volume dropped from 19.50 billion to 18.44 billion at press time, signaling reduced activity from major holders.
