Cardano Sees 1,218% Spike In This Major Metric, Will ADA Price Follow?

Quick Summary:

Meaning each wallet being tracked by the metric has to possess at least 35.87 million ADA tokens before they can be classified as large holders or whales.  According to the ADA holdings distribution, only 0.01% of the total Cardano addresses are within the range of those possessing 10 million to 100 million ADA tokens.

Cardano Sees 1,218% Spike In Major Metric According to the Large Holders Inflow from IntoTheBlock, the Cardano blockchain witnessed a 1,220% surge in whale inflow.

When some of these big players make moves, it can either boost confidence or spread fear among other whales and retail investors.  Related Reading: Bitcoin Forms Double Top Pattern On 4-Hour Chart, Analyst Reveals Targets Recent bearish sentiment saw ADA hit a nine-month low of $0.3211, but it has rebounded and is now on the verge of reversing into a positive percentage in a seven-day timeframe.

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Author / Journalist: Scott Matherson

Category: Crypto

Markets: United Kingdom

Topics: ADAUSDT Adausd Cardano ADA price ADA news Cardano price Cardano news ADA

Source Website Secure: Yes (HTTPS)

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Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-12 @ 00:30:59 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 452 words

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Copyright Owner: © NewsBTC

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