Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Santiment on-chain data provider has drawn the attention of its followers to a surge in the amount of whale transactions on the Cardano blockchain.
In a recent tweet, the Santiment team of analysts shared that on Friday ADA got a bounce of nearly 6 percent, while the amount of large whale transfers started rising on Cardano chain.
Santiment believes that these transactions were whales accumulating Cardano’s native coin on the dip, provoking the price rise.
?? #Cardano got a small bounce the second half of Friday trading after large whale transaction counts began to appear on the $ADA network. An extreme example of the last time whales accumulated on a downswing, prices jumped +28% in the span of 18 hours. https://t.co/jLJbfC1BI7 pic.twitter.com/YPaYJfgmiD
— Santiment (@santimentfeed) June 3, 2022
Earlier this week, U.Today reported that a milestone was reached by Cardano when the amount of NFTs issued on this blockchain exceeded 5 million. Simultaneously, the price of ADA went up roughly 12 percent.
Arman Shirinyan
Alex Dovbnya
