The Cardano (ADA) cryptocurrency whales are waking up and the blockchain seems to be experiencing an awakening of these large holders of the token. Recently, it was noted that Cardano whales recorded a staggering $13 billion in large transactions, according to analytics platform, IntoTheBlock.
The platform has observed ADA whale activity over the past few months, pumping the ADA network with notable transactions. Analysis shared on January 18 highlighted that an average of $13 billion in transactions are being settled daily on the Cardano network.
“Cardano whales have been quite active in recent months. $13 billion in large transactions (>$100k) are being settled daily on Cardano on average. A significant amount if you compare it to Ethereum’s 7-day average of $5 billion,” he wrote.
Cardano whales have been quite active for the past few months. $13B in large transactions (>$100k) is being settled on Cardano daily on average. A significant amount, if you compare it to Ethereum’s $5B 7-day average. pic.twitter.com/8rjeQZaonU
— IntoTheBlock (@intotheblock) January 18, 2024
At the time of publication, the price of Cardano was quoted at US$0.5143, down 2.2% in the last 24 hours. During this period, the cryptocurrency recorded a trading volume of US$277,667,775. Cardano price has fallen 14.6% in the last seven days.
Cardano Reaches New Heights: Optimistic Predictions for 2024
Cardano, a renowned platform in the cryptocurrency space, has been making strides towards innovation and growth. Recently, Cardano enthusiast Chris O shared impactful statistics, highlighting the significant evolution of the network between January 13, 2023 and January 12, 2024. This period witnessed a significant increase in user engagement, adoption and functionality.
Impressively, the Cardano network processed 82.8 million transactions over the last year. This number represents a considerable increase of 24.1 million compared to the previous year, which recorded 58.7 million transactions. This growth is a direct reflection of the diversification of Cardano’s use, enhanced by the network’s continuous updates, which improve its functionality.
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Source: https://portalcripto.com.br/baleias-cardano-ativas-us-13-bilhoes-movimentados-em-grandes-transacoes/
