đ Cardano Whales Move $6 Billion in Just One Day! Could ADA Hit $0.50? đ€
In an exciting turn of events, Cardano (ADA) has surged by approximately 4% in the last 24 hours, signaling a significant uptick in activity among major ADA holders! After experiencing a bearish start to the week with a 9.5% drop to $0.33260, ADA has rebounded impressively with a 6% rally.
đ° Whale Activity on the Rise!
Recent data from IntoTheBlock (ITB) reveals that whales executed transactions totaling a staggering 17.33 billion ADA, worth $6 billion! The total whale trades surged to $24.18 billion over the past week, with $6 billion traded on October 11 alone.
đ Cardano Ecosystem Advances Fueling Growth
The increase in whale transactions aligns with recent developments within the Cardano ecosystem. With updates to versions v.9.2.0 and v.9.2.1, Cardano is proving to be a hotbed for blockchain innovation. In September, there were 1,376 active Cardano projects and 80,000 native tokens created, showcasing its thriving ecosystem.
đ§ Will ADA Reach $0.50 or Face a Pullback?
Despite recent challenges, ADA has maintained a critical support level at $0.33, giving hope to optimistic investors. Notably, Cardano founder Charles Hoskinson has addressed concerns regarding ADAâs outlook, emphasizing that the project is still growing and committed to its decentralized vision, unlike some competitors.
With on-chain data reflecting a net expansion of the network and positive futures market momentum, the recent spike in whale activity may suggest a continued upward trajectory for ADA.
đ Current ADA Price: $0.3589 (+1.35%)
What are your thoughts on ADA's future? Will we see it hit $0.50? Join the conversation! đŹđ
