Cardano (ADA) Whales Securing Gains After 10% Upswing: What’s Next?

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Cardano (ADA) Whales Securing Gains After 10% Upswing: What’s Next? - NewsBTC

Quick Summary:

Cardano Long-Term Holders Selling Cardano is testing local supply levels after a significant surge, with investors becoming cautious in their short-term strategies. Yesterday, the ratio of daily on-chain transactions in profit to loss reached 1.53, meaning that for every ADA transaction resulting in a loss, 1.53 transactions have generated profits.

Related Reading: Injective (INJ) Breaks $18 Resistance: Investors Expect Higher Prices As the market continues to evolve, ADA strives to maintain its uptrend, buoyed by positive sentiment and growing optimism for further price recovery.

This metric highlights that many investors are taking advantage of the recent price gains, leading to some long-term holders selling their coins for profit.