Cardano Whales Bullish On $ADA Over Upcoming Feature Launch?
Cardano Crypto News: As the crypto market reaped benefits from the US regional bank crisis over last few weeks, several altcoins have been making progress. The Bitcoin price reached its highest level in around nine months, as the US economy continues to grapple with two major concerns – the banking crisis and rising inflation. Meanwhile, whales holding Cardano appear to be anticipating a price rise for $ADA in coming weeks. This comes after Bitcoin price saw a weekly jump by around 6%.
Also Read: Binance CEO CZ Calls For Unity In Crypto Industry Amid FUD Over Rumors
On chain data shows that the Cardano whales with holdings between 1 million to 10 million $ADA continued to fill their bags in recent times. These whales have added around 150 million $ADA over the month of March 2023, worth a total of $57 million. Historically, such a clear buying pattern from the big whales came with a price rise thereafter.
Milkomeda EVM Contracts Access To Cardano Users
The Cardano community is looking forward to the launch of a feature on Milkomeda, Cardano’s EVM layer. This feature will give Cardano users access to Ethereum Virtual Machine (EVM) smart contracts using ADA wallet. Sebastien Guillemot, cofounder of Milkomeda, claims that the feature addition will make Cardano a top EVM chain.
“Milkomeda (Cardano’s EVM layer) is launching a feature allowing EVERY Cardano user to use EVM contracts directly from ANY Cardano wallet. All in pure ADA. This will instantly make Cardano one of the largest EVM chains by user count.”
Earlier, CoinGape reported that ADA price could face resistance level at $0.427 and $0.46 next.
Also Read: Bitcoin Correlation With Gold At Multi-Year High Surpassing US Equities
- Will Bitcoin Rally as JPMorgan Tips Fed To End QT at FOMC Meeting?
- White House Crypto Czar Backs Michael Selig as ‘Excellent Choice’ To Lead CFTC
- Ripple Explores New XRP Use Cases as Brad Garlinghouse Reaffirms Token’s ‘Central’ Role
- Kyrgyzstan Adds Binance Coin (BNB) to National Crypto Reserve, CZ Confirms
- Ripple-Backed Evernorth Grows XRP Treasury to $1B Ahead of Nasdaq Listing
- Analyst Eyes Key Support Retest Before a Rebound for Ethereum Price Amid $93M ETF Outflows and BlackRock Dump
- Bitcoin Price Eyes $120K Ahead of FED’s 98.3% Likelihood to Cut Rates
- PEPE Coin Price Prediction as Weekly Outflows Hit $17M – Is Rebound Ahead?
- HBAR Price Targets 50% Jump as Hedera Unleashes Massive Staking Move
- Chainlink Price Outlook: Analyst Predicts $100 as Reserve Adds 63K LINK
- SUI Price Prediction as TVL and Monthly DEX Volume Hit All-Time Highs- What’s Next?
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.
