Cardano, which is ranked ninth in terms of market value, has gained approximately 6 percent in the last 24 hours and is trading at the level of $ 0.8546 at the time of writing. Parallel to this development, ADA whales began to move. Details of the subject are on Kriptokoin.com.
Cardano whales have become more active in the last 24 hours
Cardano whales have become more active in the last 24 hours, according to data from popular crypto statistics and analytics firm IntoTheBlock. they started to come. Sudden spikes in such large whale transactions often indicate high activity among institutional players or whales buying or selling. Cardano (ADA) price levels are now trying to recover after falling to lows near $0.77 on March 7. According to the latest data, ADA had risen to the level of $ 0.85. To speak of large whale transactions, the amount transferred must exceed $100,000. A large trading volume gives an idea of the total amount taken by whales and institutional players on a given day. With the Cardano network pointing to significant growth, big investors known as whales seem to be on the hunt for bargains.
If we look at whale movements in the context of Cardano, we encounter a record. According to data provided by crypto analytics firm IntoTheBlock, the amount held by addresses holding between 1 million and 10 million tokens reached a record high of 12.47 billion ADA last week. According to DefiLlama, the total value locked in the Cardano network has climbed dramatically, reaching a new high of $173.29 million. SundaeSwap, a decentralized exchange (DEX), holds more than 70% of the funds.
Positive developments for ADA
The news started to come from crypto exchanges one after the other. Bitrue, one of the popular cryptocurrencies, announced that it has invested in Cardano-based DEX Wing Riders to support its development. Bitrue, along with other notable investment firms such as Animoca Brands, MatrixPort, Spark Digital Capital, and Double Peak, has contributed to Cardano DEX’s private funding round through its $50,000,000 mutual fund. Meanwhile, ADA-based DEX AdaSwap recently announced a $2.6 million fundraising effort led by venture capital firm iAngels and several other investors, including “Wonderwoman” star Gal Gadot. Finally, Minswap announced its debut on the Cardano mainnet. Users can now deposit liquidity in exchange for rewards and exchange tokens in a decentralized manner.
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