24/7 Cryptocurrency News

Cardano (ADA) Sees Whale Transactions Hinting Another 36% Rally

The $100K+ whale transactions for Cardano (ADA) have touched a multi-week high for the first time in nine months since May 2022.
Published by
Cardano (ADA) Sees Whale Transactions Hinting Another 36% Rally

The crypto markets have bounced back strongly this year in 2023, and altcoins particularly have been enjoying a gala time. Cardano’s native cryptocurrency ADA has rallied by more than 60% since the beginning of the year and is currently trading at $0.399 with a market cap of $13.8 billion.

The recent price pullback in Cardano comes amid a strong surge in whale numbers. The $100K+ whale transactions have touched a multi-week high. Speaking on the development, on-chain data provider Santiment reported:

“Cardon’s price is up +65% in 2023, and key shark & whale accumulating has had a lot to do with this. Addresses holding 100K to 100M $ADA now hold the most in their combined wallets since Nov. 8th. Today, $100k+ whale transactions hit a 12-week high”.

Courtesy: Santiment

Cardano (ADA) Set For 36% Price Gains?

Since May 2022, the last week witnessed the largest $100K+ transactions while registering the most whale activity in nine months. As per the historical charts, the last time this happened, the ADA price rallied by more than 36%. Since the beginning of 2023, 36 such addresses holding anywhere between 1 million to 100 million ADA coins have been added. As Santiment reports:

“Cardano whale numbers have risen in 2023, and large transactions have notably broken out. The last time there were this many $100k+ $ADA transactions was in May, & its price jumped +36% from the beginning of that week until its local top in early June”.

Courtesy: Santiment

Another major development in the Cardano ecosystem is its own decentralized exchange SundaeSwap has initiated a significant step in the governance model. Recently, SundaeSwap Labs proposed the use of non-blockchain-based audible governance technology that comes with a set of rules for consideration, voting and approval of proposals for the platform’s future.

The submission of these rules shall happen by February 19, 2023. Those willing to suggest changes should have at least 10,000 SUNDAE tokens worth around $200 as per the current price. However, to cast a vote, investors can have any amount of SUNDAE tokens.

Advertisement

Share
Bhushan Akolkar

Bhushan is a seasoned crypto writer with over eight years of experience spanning more than 10,000 contributions across multiple platforms like CoinGape, CoinSpeaker, Bitcoinist, Crypto News Flash, and others. Being a Fintech enthusiast, he loves reporting across Crypto, Blockchain, DeFi, Global Macros with a keen understanding in financial markets. 

He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills. Bhushan has a bachelors degree in electronics engineering, however, his interest in finance and economics drives him to crypto and blockchain.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and 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.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

Fed’s Lorie Logan Urges Caution on Further Rate Cuts Citing Inflation Risks

Federal Reserve Bank of Dallas President Lorie Logan is the latest Fed official to share…

October 3, 2025
  • 24/7 Cryptocurrency News

Nasdaq-Listed Fitell Adds Pump.fun’s PUMP To Supplement Solana Treasury

Australia’s Fitell Corporation has purchased 216.8 million PUMP tokens for $1.5 million. The Nasdaq-listed company…

October 3, 2025
  • 24/7 Cryptocurrency News

FG Nexus to Tokenize Stock on Ethereum as SEC Weighs 24/7 Onchain Stock Trading

FG Nexus has announced that it will allow shareholders to convert common stock into tokenized…

October 2, 2025
  • Bitcoin News

Bitcoin Still Undervalued, JPMorgan Forecasts Rally to $165,000

JPMorgan says Bitcoin (BTC) is undervalued compared to gold and could rise to $165,000, giving…

October 2, 2025
  • 24/7 Cryptocurrency News

Breaking: CME to Launch 24/7 Crypto Futures Trading Amid Rising Institutional Demand

Derivatives exchange CME Group has announced plans to begin offering 247/7  crypto futures and options…

October 2, 2025
  • Bitcoin News

Citigroup Predicts Bitcoin Could Climb to $231,000 in 12 Months

Banking giant Citigroup has revised its Bitcoin prediction to $231,000 in the next 12 months,…

October 2, 2025