According to WhaleStats, whales or large holders are accumulating Cardano's ADA as it ranks among the top 10 purchased assets for the 1,000 biggest BSC whales in the last 24 hours.
Whales are typically known to accumulate during periods of dips or consolidation, as it provides them the opportunity to buy at a discount.
JUST IN: $ADA @CardanoStiftung now on top 10 purchased tokens among 1000 biggest #BSC whales in the last 24hrs 🐳— WhaleStats - the top 1000 BSC richlist (@WhaleStatsBSC) November 17, 2022
Peep the top 100 whales here: https://t.co/hABj9cqU4d
(and hodl $BBW to see data for the top 1000!)#ADA #whalestats #babywhale #BBW pic.twitter.com/cHLbJr6X62
At the time of publication, Cardano was trading at $0.321, down 2.56% in the last 24 hours. ADA, like every other crypto asset, has underperformed so far this year. Despite this, the community appears to be confident that Cardano will thrive in the next bull cycle.
The founder of the crypto capital venture, Dan Gambardello, believes Cardano could run 50 to 100 times in the next bull cycle, reaching a price target of $15 in the process.
Community anticipates major announcement
As reported by U.Today, Cardano founder Charles Hoskinson said he was going to make a special announcement during the Edinburgh event.
This was a project he said he had been working on for the past four years. The Cardano creator had announced in late October that "something special" was coming in November, without going into further details.
The "Edinburgh event" the Cardano founder refers to might be "IO Scotfest: The Age of Voltaire," which is scheduled for Nov. 18-19 and will be streamed live from Edinburgh.
The virtual event, which will celebrate the dawning of a new era for Cardano, will showcase the community's achievements over the past five years and likewise share its vision for the next era of Cardano's development.