Cryptocurrency whales have always had an interest in meme coins like DOGE. However, recently the interest of whales has shifted to different projects. WhaleStats shared that MANA is currently the most held altcoin among the top 2,000 ETH whales. Meanwhile, the whale investor group is collecting Cardano (ADA).
Along with DOGE, ADA is on the whales’ menu.
WhaleStats is a portal that tracks the activities of major crypto investors across various networks. According to WhaleStats, Cardano (ADA) has become one of the most purchased assets in the last 24 hours by the first 2,000 whales on Binance Smart Chain. Meanwhile, the popular meme coin Dogecoin (DOGE) also found its place on the list.
https://twitter.com/WhaleStatsBSC/status/1599297767515488257
This isn’t the first time ADA has particularly attracted the attention of BNB holders in recent weeks. In addition, he regularly appears in such newsletters. We previously reported similar accumulations as Kriptokoin.com in September and November. The top 100 whales on BNB Chain currently have 21.4 million ADA. That’s the equivalent of $6.87 million. The share of ADA in the total portfolio of this investor group is 0.86%. In total, there are 500,768 Cardano addresses on the BSC network.
This kind of overlap between two different crypto ecosystems may seem strange. However, we are talking about whales after all. So the financial issue clearly comes first. So what opportunity do big investors see in ADA right now?
Cardano (ADA) price action
For the past three weeks, ADA has been holding above the extremely positive $0.3 level. Actually, this level is the lower end of the aisle where the ceiling is at $0.4.
ADA daily price chart / Source: TradingViewAll else being equal, the price of ADA may have bottomed out, according to analysts. So it probably became an attractive asset for whales to hoard leftovers. However, the intake volume is relatively low, albeit by whales. Therefore, it shows that they are acting somewhat cautiously in their investment decisions regarding the asset.
MANA is now the most popular token of the first 2,000 Ethereum whales
According to WhaleStats, Decentraland (MANA) has turned Lido Staked ETH (stETH) in the largest asset in dollar terms among the 2,000 largest ETH whales. Meanwhile, MANA is trading at $0.413 after a slight 24-hour gain of 0.06%. The altcoin weakened by 0.29% against BTC and strengthened by 1.64% against ETH in the same timeframe.
MANA daily price chart / Source: TradingViewThe price of MANA is currently at around $0.4260 by the 20 daily EMA lines. This is also the upper bound of the parallel price channel where MANA has been trading for the past 2 weeks. The lower bound for the price channel is $0.368. According to analysts, currently the daily Relative Strength Index (RSI) line is positioned above the daily RSI Standard Moving Average (SMA) line, which is a bullish flag that could cause MANA to break above the current resistance level.
Analysts say that a break above the resistance level will likely push the MANA higher towards $0.4632. This means a gain of 12.1%. However, they note that if the resistance level continues, MANA could fall as far as the lower band of the current price channel. Meanwhile, analysts state that MANA closing above the 20 daily EMA line by the end of tomorrow’s trading session will be confirmation of the bullish move.
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