Cardano Whales Scoops 560 Million ADA; Something Big Coming Up?

Cardano News: The digital asset market is on a surge recovering from the lows of 2022. The recovery rally is backed by improving sentiments for the crypto assets, while crypto Whales have managed to grab the “buy the dip” opportunity to increase their holdings.

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Cardano Whales On A Roll

As per the On-chain data, Cardano whales are on an accumulation spree for over the past 2 weeks. The whale addresses added around 560 million ADA tokens (approx worth $218 million) in this period of time.

The accumulation spree which started around March 26, 2023, picked up the pace on April 5, 2023. Data suggests that Whale added hundreds of ADA in multiple transactions.

Countering the downward trend Cardano price has managed to surge by over 25% over the past 30 days. ADA is trading at an average price of $0.387, at the press time. Its 24 hour trading volume is up by 6% to stand at $197 million. Read More Cardano News Here…

Cardano price went on to take a dip on March 27, 2023, and trade at an average price of $0.34. However, ADA price registered a surge as whale accumulation comes in. Cardano price registered a recent high of $0.4077 on March 31, 2023. Meanwhile, Cardano price saw a slight decline on April 5, 2023.

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Earlier, Cardano founder Charles Hoskinson in a tweet compared the number of wallets participating in ADA and Ethereum staking. He stated that Cardano is pretty special as it is almost like a lot of people thought about how to shape an excellent staking protocol years ago.

As per the data shared by ADA founder, 1.23 million unique wallets are participating in the Cardano staking. However, Ethereum staking record only 88.4k unique wallets.