Cardano: ADA whales more confident than ever

Every day, there seems to be news of advancements in Cardano, which is pleasing the whales and pushing them to fill up on ADA frequently. Last weekend, the network’s transactions were at their highest.

The dance of ADA whales

The Cardano blockchain continues to impress observers with its increasing dynamism and performance, attracting the attention of the ADA whales.

In a recent publication, ZyCrypto revealed that the ADA whales were very active last weekend. This specialized cryptocurrency media obtained this information from an analyst’s tweet regarding recent movements of Cardano’s whales.

The analyst stated that:

• Cardano recorded more than 3,000 transactions last week.
• At the same time, ADA transactions over $100,000 experienced an increase on the network.
• On April 1st, similar transactions numbered at 4,000.
• Ten days later, there was an upward revision: 5,000.
• Currently, the data indicates that the ADA whales are on the verge of surpassing this cap.

The same analyst commented on this situation, saying:

“Large ADA transactions are on the rise, suggesting that Cardano network activity is heating up as institutional players and whales make their moves. This is a bullish sign supporting the ADA uptrend!”

Increasing interest

The ADA, XRP, ETH, or SHIB whales don’t make a spectacle of themselves without a good reason. Do you remember the movements of XRP whales in March when everyone expected Ripple to win against the SEC?

If Cardano’s whales are waking up, it’s because there have indeed been advancements within the network. Recent statistics published by the blockchain itself support this thesis.

For example, Grayscale Investments holds a significant amount of ADA. On April 6, this digital asset manager rebalanced its funds for the first quarter of 2023, an opportunity for Grayscale to demonstrate its unwavering love for Cardano. ADA still holds its place in the Smart Contract Platform Ex-Ethereum Fund (GSCPxE Fund) of this company.

It’s also worth mentioning these figures:

• The most recent fund component weights for Cardano stand at 28.31%.
• In March, ADA recorded monthly gains of approximately 17%.

In short, with banks going wild, ADA, XRP, or ETH whales are awakening from their slumber one by one. Even the dormant BTC whales are getting involved in the adventure.