{"id":631873,"date":"2024-07-27T23:00:11","date_gmt":"2024-07-27T23:00:11","guid":{"rendered":"https:\/\/shenyangcang.com\/?p=631873"},"modified":"2024-07-27T11:43:46","modified_gmt":"2024-07-27T11:43:46","slug":"cardano-whales-17-billion-ada","status":"publish","type":"post","link":"https:\/\/shenyangcang.com\/news\/cardano\/cardano-whales-17-billion-ada\/","title":{"rendered":"Cardano Recovery Imminent? Whales Make Their Move With 17 Billion ADA"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Cardano is at a significant milestone with the impending Chang hard fork. This pivotal moment follows the<\/span><a href=\"https:\/\/bitcoinist.com\/cardano-sets-stage-chang-hard-fork-node-upgrade\/\" rel=\"nofollow\"><span style=\"font-weight: 400\"> recent upgrade of its<\/span><\/a><span style=\"font-weight: 400\"> node validation software before the upgrade goes live. As the Cardano ecosystem gears up for this major update, the network is experiencing a surge in activity that could determine its trajectory in the coming weeks.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Amidst this heightened activity, Cardano&#8217;s cryptocurrency, ADA, has demonstrated an <\/span><a href=\"https:\/\/shenyangcang.com\/altcoin\/cardano-ada-altcoins-price-boosts-santiment\/\"><span style=\"font-weight: 400\">interesting price performance<\/span><\/a><span style=\"font-weight: 400\">. ADA has seen positive price action in the past 24 hours, reflecting growing market optimism. This uptick in price comes on the heels of increasing transaction volumes, particularly from whales or large ADA holders. According to recent on-chain data, this cohort of traders has significantly ramped up their transactions, with transaction volume recently reaching a peak of 17 billion ADA tokens.<\/span><\/p>\n<h2>Whales Making Moves<\/h2>\n<p><span style=\"font-weight: 400\">This movement from large holders was noted on IntoTheBlock&#8217;s dashboard through a metric which follows the number and volume of transactions greater than $100,000 in a 24-hour period. Interestingly, this metric <\/span><a href=\"https:\/\/app.intotheblock.com\/coin\/ADA\/deep-dive?group=financials&amp;chart=largeTransactions\" rel=\"nofollow\"><span style=\"font-weight: 400\">shows that the<\/span><\/a><span style=\"font-weight: 400\"> number of large transactions has been on a decline since the beginning of the week. However, an activity spike created a trading volume of 17.78 billion ADA on Friday, coming to $7 billion worth of tokens exchanged among whale addresses.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/shenyangcang.com\/analysis\/xrp\/xrp-bitcoin-and-ethereum\/\">Analyst Says XRP Remains Strongest Compared To Bitcoin And Ethereum, Here\u2019s Why<\/a><\/div>\n<p><span style=\"font-weight: 400\">The increase in activity continues to linger, with 15.43 billion ADA tokens worth $6.28 billion moved among large holders in the past 24 hours.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">While the surge in activity and trading volume could also be large transfers to crypto exchanges for potential selloffs, on-chain data suggests otherwise. Insights from IntoTheBlock&#8217;s Large Holders Inflow <\/span><a href=\"https:\/\/app.intotheblock.com\/coin\/ADA\/deep-dive?group=ownership&amp;chart=concentration\" rel=\"nofollow\"><span style=\"font-weight: 400\">metric <\/span><\/a><span style=\"font-weight: 400\">reveal that ADA whales have been rapidly accumulating tokens instead. This metric specifically tracks the influx of ADA tokens into wallets that hold at least 0.1% of the circulating supply, providing a clear picture of large holder behavior.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The data shows that these wallets have experienced a 579% increase in inflows over the past seven days and a 173% increase over the past 30 days. This significant accumulation has led to a corresponding rise in net flow, which accounts for both the inflow and outflow of tokens from large addresses. Specifically, there has been a staggering 720.62% increase in net flow over the last seven days and an even more dramatic 2580% increase over the past 30 days.<\/span><\/p>\n<figure id=\"attachment_631877\" aria-describedby=\"caption-attachment-631877\" style=\"width: 460px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-631877\" src=\"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/07\/Cardano.png?w=460&#038;resize=460%2C114\" alt=\"Cardano\" width=\"460\" height=\"114\" srcset=\"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/07\/Cardano.png?w=512 512w, https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/07\/Cardano.png?w=460 460w\" sizes=\"(max-width: 460px) 100vw, 460px\"><figcaption id=\"caption-attachment-631877\" class=\"wp-caption-text\">Source: IntoTheBlock<\/figcaption><\/figure>\n<h2>Cardano Recovery Imminent?<\/h2>\n<p><span style=\"font-weight: 400\">These figures suggest that large holders are not only acquiring more ADA but are also retaining their holdings, resulting in a substantial net positive flow. This trend reflects a strong accumulation phase among ADA whales, indicating their growing confidence and long-term commitment to the Cardano network.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/shenyangcang.com\/news\/dogecoin\/dogecoin-replicate-2021-18000-run\/\">Can Dogecoin Replicate Its 2021 18,000% Run? Here\u2019s What The Chart Says<\/a><\/div>\n<p><span style=\"font-weight: 400\">Much of this accumulation can be attributed to the upcoming Cardano hard fork, which will herald the Voltaire era. Voltaire is the last phase of Cardano&#8217;s original roadmap in creating a fully decentralized blockchain ecosystem. As the Chang hard fork approaches, the crypto community is closely monitoring these developments, anticipating how they will influence the overall landscape of the Cardano network and its market performance.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Additionally, there are <\/span><a href=\"https:\/\/x.com\/TapTools\/status\/24968858\" rel=\"nofollow\"><span style=\"font-weight: 400\">rumors <\/span><\/a><span style=\"font-weight: 400\">that Cardano might be the next cryptocurrency to secure <\/span><a href=\"https:\/\/bitcoinist.com\/spot-xrp-cardano-solana-etf-inevitable-ripple-ceo\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">its own Spot ETFs<\/span><\/a><span style=\"font-weight: 400\"> following the <\/span><a href=\"https:\/\/bitcoinist.com\/spot-ethereum-etfs-launch-turned-regulatory-corner\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">recent approval of<\/span><\/a><span style=\"font-weight: 400\"> Spot Ethereum ETFs. At the time of writing, Cardano is trading at $0.4171, up by 1% in the past 24 hours. The next feasible step is breaking above $0.42.\u00a0<\/span><\/p>\n<figure style=\"width: 3286px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/UA2XXSc9\/\" alt=\"Cardano ADA price chart from Tradingview.com\" width=\"3286\" height=\"1518\"><figcaption class=\"wp-caption-text\">ADA price moving to $0.42 | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">ADAUSDT on price chart from Tradingview.com<\/a><\/figcaption><\/figure>\n<div class=\"disclaimer-shortcode\">Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Cardano is at a significant milestone with the impending Chang hard fork. This pivotal moment follows the recent upgrade of its node validation software before the upgrade goes live. As the Cardano ecosystem gears up for this major update, the network is experiencing a surge in activity that could determine its trajectory in the coming weeks. Amidst this heightened activity, Cardano&#8217;s cryptocurrency, ADA, has demonstrated an interesting price performance. ADA has seen positive price action in the past 24 hours, reflecting growing market optimism. This uptick in price comes on the heels of increasing transaction volumes, particularly from whales or large ADA holders. According to recent on-chain data, this cohort of traders has significantly ramped up their transactions, with transaction volume recently reaching a peak of 17 billion ADA tokens. Whales Making Moves This movement from large holders was noted on IntoTheBlock&#8217;s dashboard through a metric which follows the number and volume of transactions greater than $100,000 in a 24-hour period. Interestingly, this metric shows that the number of large transactions has been on a decline since the beginning of the week. However, an activity spike created a trading volume of 17.78 billion ADA on Friday, coming to $7 billion worth of tokens exchanged among whale addresses.\u00a0 Related Reading: Analyst Says XRP Remains Strongest Compared To Bitcoin And Ethereum, Here\u2019s Why The increase in activity continues to linger, with 15.43 billion ADA tokens worth $6.28 billion moved among large holders in the past 24 hours.\u00a0 While the surge in activity and trading volume could also be large transfers to crypto exchanges for potential selloffs, on-chain data suggests otherwise. Insights from IntoTheBlock&#8217;s Large Holders Inflow metric reveal that ADA whales have been rapidly accumulating tokens instead. This metric specifically tracks the influx of ADA tokens into wallets that hold at least 0.1% of the circulating supply, providing a clear picture of large holder behavior.\u00a0 The data shows that these wallets have experienced a 579% increase in inflows over the past seven days and a 173% increase over the past 30 days. This significant accumulation has led to a corresponding rise in net flow, which accounts for both the inflow and outflow of tokens from large addresses. Specifically, there has been a staggering 720.62% increase in net flow over the last seven days and an even more dramatic 2580% increase over the past 30 days. Cardano Recovery Imminent? These figures suggest that large holders are not only acquiring more ADA but are also retaining their holdings, resulting in a substantial net positive flow. This trend reflects a strong accumulation phase among ADA whales, indicating their growing confidence and long-term commitment to the Cardano network.\u00a0 Related Reading: Can Dogecoin Replicate Its 2021 18,000% Run? Here\u2019s What The Chart Says Much of this accumulation can be attributed to the upcoming Cardano hard fork, which will herald the Voltaire era. Voltaire is the last phase of Cardano&#8217;s original roadmap in creating a fully decentralized blockchain ecosystem. As the Chang hard fork approaches, the crypto community is closely monitoring these developments, anticipating how they will influence the overall landscape of the Cardano network and its market performance. Additionally, there are rumors that Cardano might be the next cryptocurrency to secure its own Spot ETFs following the recent approval of Spot Ethereum ETFs. At the time of writing, Cardano is trading at $0.4171, up by 1% in the past 24 hours. The next feasible step is breaking above $0.42.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":631879,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16896],"tags":[12333,89347,84005,14643,79508,12332,89230,12329,85314,6664,85977,89615,14781],"class_list":["post-631873","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cardano","tag-ada","tag-ada-news","tag-ada-price","tag-adausd","tag-adausdt","tag-cardano","tag-cardano-news","tag-cardano-price","tag-cardano-whales","tag-crypto","tag-crypto-whales","tag-whale-news","tag-whales"],"acf":[],"yoast_head":"\n<title>Cardano Recovery Imminent? 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