Altcoin projects are on the rise in the new day after a long-term sideways movement. The well-established altcoin project Cardano (ADA) rose to $ 0.37 in this process. On-chain data showed that whales continued to accumulate ADA.
IntoTheBlock, one of the on-chain data analysis companies, shared a series about Cardano on its social media account. In the tweet series in which the activity on the network was examined along with the data, it was emphasized that the whales had increased their savings recently.
Accordingly, in the last 30 days, there has been an increase of 1,500% in entries to these wallets. This was interpreted as the Cardano whales retained their bullish prospect.
In addition to large whale transactions, the transactions of small investors on the network also reached the highest level in the last 3 months. The broad investor group, which traded in the range of 10-100 dollars, constituted 28% of the total transactions.
Despite all the activity on the network, the majority of ADA investors continued to appear at a loss. According to IntoTheBlock, only 22.2% of all traders hold profitable positions at current values. The wallets of 73.2% continue to be in unrealized loss status.
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