Main navigation

ADA Preferred by Investors in This Bear Market: Survey

Wed, 06/08/2022 - 09:13
article image
Yuri Molchan
Recent survey on Twitter has shown that during current bear market a lot of investors prefer ADA to other digital currencies
ADA Preferred by Investors in This Bear Market: Survey
Cover image via stock.adobe.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Read U.TODAY on
Google News
Contents

Cardano founder Charles Hoskinson has taken to Twitter to comment on a recent survey conducted by @LondonRealTV, the Twitter account of the same-name media company.

Almost 80% of respondents in this survey have voted for Cardano's native token ADA as something they prefer over other major cryptos in a bear market.

Meanwhile, Cardano whales have been moving large amounts of ADA right before the coin's price went up significantly.

ADA is preferred during bear market

The survey run by London Real TV asked crypto community members which coin they prefer to hold most during the current bear market. The respondents were offered to choose between the two largest coins, Bitcoin and Ethereum, followed by Cardano's ADA and "other cryptos."

A total of 76.9% of the votes were given to ADA, 11% and 5% were in favor of Bitcoin and Ethereum, respectively. Overall, 8,861 voters took part in the poll.

Related
Cardano Inching Closer to Vasil Hard Fork

Whales move ADA ahead of 32% rise

Santiment on-chain data provider has reported that last Friday, the number of whale transactions suddenly went up.

Around 39 transfers, carrying over $1 million worth of ADA each, was detected between 2 p.m. and 3 p.m. UTC on Friday, June 3. After that, Santiment claims, the coin's price soared by more than 32%. The coin also reached a 17-day peak in discussion rate.

Back on that day, the tweet says, whales were accumulating ADA on the dip, pushing the price up.

At the time of writing, the sixth largest cryptocurrency is changing hands at $0.6344.

article image
About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.