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Cardano: Whales Accumulate as Community Awaits Huge News

Thu, 11/17/2022 - 14:11
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Tomiwabold Olajide
Cardano could run 50 to 100 times in next bull cycle
Cardano: Whales Accumulate as Community Awaits Huge News
Cover image via stock.adobe.com

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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.

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.

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Cardano Sees Sudden Interest from Whales, Here's Why

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.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.