Cardano News: ADA Coin Sees Sudden Interest from Crypto Whales; Time To Buy?

Cardano News: In 2023, Cardano (ADA) token is gradually staging a rebound as it has reclaimed about a third of its lost value. Interestingly, ADA is among one the most purchased assets by crypto whales this year. WhaleStats, the Crypto data tracker, reported that Cardano has flipped Ethereum’s ETH for the most traded token among the top 500 BNB Chain whales.

ADA Becomes The New Favorite Of Crypto Whales

According to WhaleStats, Cardano’s ADA ranks among the purchased assets for the 500 biggest BSC whales in the last 24 hours. This cryptocurrency is one of those which remained relatively untouched amid the FTX collapse.

On February 04, 2023, Santiment, an on-chain analytics platform, reported that the price of Cardano (ADA) has surged over 65% from the start of 2023 mainly due to ADA investors accumulating a total volume of $162.34M.

#Cardano’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. https://t.co/Od5c4Qw0qn pic.twitter.com/LmvmXnMZQe

— Santiment (@santimentfeed)

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Cardano Price to Surge?

Cardano (ADA) is showing signs of recovery as its price surged nearly 60% in the past 30 days. At the time of writing, the value of Cardano (ADA) is $0.387, which is up by 3.37% in the last seven days.

On 30 December 2022, the price of Cardano (ADA) was $0.248. Since then, the value of Cardano (ADA) has gone up by 58.3%. This impressive rise can be largely attributed to key players (sharks and whales) in the crypto market.

It is a clear indication that the increased accumulation by these large investors is driving up ADA’s value. Along with this, Cardano’s increasing popularity and strong performance makes it a worthy contender of your investment.

Also Read: Cryptocurrency Prices Today: 3 Hidden Gems To Buy On This Dip

Disclaimer: The information provided in this article is solely the author’s opinion and not an investment advice