{"id":559885,"date":"2023-11-09T11:00:34","date_gmt":"2023-11-09T11:00:34","guid":{"rendered":"https:\/\/uniquehot.com\/?p=559885"},"modified":"2023-11-09T10:03:48","modified_gmt":"2023-11-09T10:03:48","slug":"cardano-october-whale-frenzy-what-lies-ahead-for-november","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/cardano-october-whale-frenzy-what-lies-ahead-for-november\/","title":{"rendered":"Cardano October Whale Frenzy \u2013 What Lies Ahead For November?"},"content":{"rendered":"
Cardano (ADA) experienced a significant shift in its ownership landscape during the month of October. Large holders, defined as addresses holding over 0.1% of a cryptocurrency’s circulating supply, accumulated nearly 1.89 billion ADA coins. But is this development good news or bad news for the Cardano ecosystem?<\/span><\/p>\n Large Holders Netflow is a metric that measures the number of inflows minus outflows pertaining to addresses held by large ADA investors. This metric provides valuable insights into\u00a0<\/span>the behavior of major stakeholders and their impact on the ADA market.<\/span><\/p>\n When <\/span>large holders accumulate more ADA<\/span><\/a> than they are selling, it suggests a bullish sentiment among the biggest investors. In this case, it indicates that they believe in the long-term potential of Cardano and are willing to hold onto their assets, possibly anticipating future price appreciation.<\/span><\/p>\n $ADA<\/a> got a strong vote of confidence last month. Big holders accumulated 1.89 billion ADA last month, translating to over $600 million at current prices.<\/p>\n The majority of the accumulation took place between $0.249 and $0.271. \u2014 IntoTheBlock (@intotheblock) November 7, 2023<\/a><\/p><\/blockquote>\n Conversely, if large holders were offloading their ADA holdings in large quantities, it could be perceived as a bearish sign, signaling a lack of confidence in the project or an impending market downturn. However, the data suggests that they are accumulating, which could be seen as a positive indicator.<\/span><\/p>\n As of the latest data from <\/span>CoinGecko<\/span><\/a>, Cardano (ADA) is trading at $0.369344. Over the past 24 hours, the ADA price has experienced a 3.3% increase, and it has surged by 20.4% in the last seven days. These price movements suggest a growing interest and confidence in ADA among investors.<\/span><\/p>\n <\/p>\n In addition to the large holders’ accumulation, Cardano has been making waves in the blockchain development sphere. According to Santiment, a prominent analytics firm, Cardano ranks as the top blockchain in terms of development activity over a 30-day period. The project has recorded an impressive 502.57 GitHub commits during this timeframe.<\/span><\/p>\n <\/p>\n\n
\n\ud83d\udd17https:\/\/t.co\/FCp16WINDG<\/a> pic.twitter.com\/cIRpSDC1fR<\/a><\/p>\nADA’s Current Price And Recent Performance<\/strong><\/h2>\n
ADA market cap reaches $13 billion today. Chart: TradingView.com<\/a><\/pre>\n
Source: Santiment<\/pre>\n