Cardano (ADA) has surged to significant heights in whale activity recently, with average daily trading volume reaching $13.84 billion over the past week, reports IntoTheBlock. This influx of large transactions has brought Cardano’s activity to one-third of Bitcoin’s current trading volume, surpassing Litecoin’s by 500%, and leading Dogecoin by a staggering 1,600%.

Despite a slight decline from its peak of 2.767 billion ADA (equivalent to $14.08 billion), the volume of large transactions remains strong at 23.22 billion ADA (equivalent to $10.87 billion). Cardano’s whales have been quite busy, with an average large transaction volume of $13.84 billion per day over the past seven days.

However, ADA’s price has taken a hit at the same time as the surge in whale activity. The price of the Cardano token has fallen by more than 7.8% over the past week, opening the new week with continued downward momentum and currently trading at $0.4543 per token. Despite the impressive volume of whale transactions, the surge does not seem to have translated into a corresponding surge in the token’s market capitalization. The divergence between on-chain activity and market sentiment raises questions about the underlying factors driving Cardano’s recent surge in whale activity and how it will affect the token’s price.