MEXCADA Whales In Spotlight Cardano Summit In Argentina Kicks Off
Highlights
- Cardano Summit in Argentina has commenced with accompanying hype
- ADA whales are stacking up the coin amid growing positive sentiment around Cardano
- The protocol continues to lead with new innovation
The Cardano ecosystem is experiencing rapid changes at the moment, with ADA whales being the biggest beneficiaries. The Cardano Summit in Bueno Aires, Argentina, has officially kicked off, and many are looking for new updates in the ecosystem.
ADA Whales Taking Charge of Bullish Sentiment
Per data from the crypto analytics platform IntoTheBlock (ITB), the large transaction count has soared by more than 10% in 24 hours. This metric has seen approximately $6.54 billion worth of Cardano shuffled within this period.
The statistics underscores the level of sentiment within the ecosystem. For reference, ADA whales, based on IntoTheBlock definition are those transacting at least $100,000 worth of the coin. In the past 24 hours, the ITB data shows that approximately 3,670 of this transaction were scored on-chain. This count dropped to a low of 2,220 over the past week to a high of 4,150.
In actual token terms, a total of 18.75 billion ADA worth approximately $6.54 billion has been shuffled in 24 hours. The total volume jumped from a low of $5.15 billion to as high as $6.87 billion over the week. The ADA whales outlook mildly matches the price trend.
As of writing, the coin boasts of a market value of $0.3501, up by 1.98% in 24 hours. However, its trading volume is down by 29% with only $211 million transacted per data from CoinMarketCap. Despite the divergence in the whale and general market sentiment, a top market analyst noted earlier that Cardano price is bottoming out.
It is worth noting that by this projection, the price of Cardano may chart a positive pathway to new highs moving forward.
The Influence of Cardano In Argentina
With the recent Peras unveiling, there is no dearth of update within the Cardano ecosystem, the ongoing Summit in Argentina has generated massive hype. One of the key highlights of the event is the meetup with President Javier Milei.
Known for his pro-Bitcoin stance prior to his ascension in December 2023, his participation in the Summit underscores Cardano’s importance.
With the age of Voltaire, ushered in by the Chang hard fork, the decentralized governance evolution will further set it apart. Thus far, many consider the Ethereum-rival as a pioneer for decentralization, another factor driving ADA whales positive sentiment.
- Here’s Why Zcash (ZEC) Price Tanked 10% Today Following 500% Rally
- Litecoin Price Jumps, What’s Behind the Sudden Rally? (28 oct)
- Metaplanet Stock Surges 10% on Share Repurchase, Capital Allocation Policy
- AI Meets Smart Routing: Screx Sets a new efficiency Benchmark in DeFi
- Bitwise Solana Staking ETF (BSOL), Canary Litecoin and HBAR ETFs to Launch Today
- Cardano Price Eyes 80% Rally as x402 Upgrade Sparks Hope for AI Payment Expansion
- Polymarket Traders Bet Ethereum Price to Hit $5,000 as Bullish Pattern Forms
- Dogecoin Price Prediction As Whales Scoop Over $300 Million- Is A Bull Run Ahead?
- Pi Coin Price Jumps 24% as 10M Tokens Exit Exchanges – Can Bulls Sustain the Momentum?
- Bitcoin Price Poised to Break $125k? If President Trump Announces Deal with China on October 30th
- Analyst Eyes Key Support Retest Before a Rebound for Ethereum Price Amid $93M ETF Outflows and BlackRock Dump
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
