The leading crypto analysis firm Santiment, known for its important data on crypto markets, made statements stating that the optimism of crypto money investors has increased. The increase in the price of Cardano (ADA), one of the altcoin projects that has had its share of optimism, did not go unnoticed. He drew attention to the levels to watch for Santiment Cardano. We, as Kriptokoin.com, have compiled it for you.
Pay attention to these levels in Cardano (ADA)
Increasingly, Cardano (ADA) seems to be getting its share of the recovery in the general crypto markets and the positivity of investors in recent days and is recovering. Santiment, one of the leading on-chain analytics firms in the crypto circles, states that as Bitcoin and the entire crypto market are starting to recover, there has been a significant increase in trader optimism in the crypto social circles. Cardano’s ADA token is posting a recovery along with the rest of the altcoin market. At the time of this writing, ADA was trading at $1.12, up around 5% in the last 24 hours, according to CoinMarketCap data.
Here’s what to watch on Cardano: On-chain signals provided by IntoTheblock were mostly bullish for ADA at press time. As we previously reported as cryptokoin.com, Cardano has seen an increase in addresses since the beginning of 2022. According to information from on-chain analysis companies, we can say that Cardano addresses with balances between 10,000 and 1,000,000 ADA have increased by a staggering 15,000% since mid-December 2021. According to Santiment, this category of investors doubled their holdings, accumulating $53.6 million in tokens at the end of January. Apart from that, the balance in the hands of addresses with 1-10 million ADA increased by 40.65% in just the first month of 2022.
Kraken, one of the most popular exchanges in the crypto industry, stated in its report that the current price action of ADA, combined with its daily trading, could be a bullish indicator. Kraken also notes that after the launch of dApps on Cardano, transactions interacting with smart contracts now make up the majority of ADA transactions. The total number of Cardano wallets has recently exceeded $3 million. As of December 24, that figure was 2.5 million, and more than 500,000 ADA wallets have been added since then.
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