{"id":605717,"date":"2024-04-30T06:00:14","date_gmt":"2024-04-30T06:00:14","guid":{"rendered":"https:\/\/uniquehot.com\/?p=605717"},"modified":"2024-07-12T05:57:08","modified_gmt":"2024-07-12T05:57:08","slug":"cardanos-mysterious-surge-whats-behind-the-13-billion-daily-transaction-boom","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/cardanos-mysterious-surge-whats-behind-the-13-billion-daily-transaction-boom\/","title":{"rendered":"Cardano’s Mysterious Surge: What’s Behind The $13 Billion Daily Transaction Boom?"},"content":{"rendered":"

Recently, Cardano (ADA), the smart contracts platform famed for its energy-efficient Proof-of-Stake consensus process, has been creating attention. On-chain data shows a notable increase in big transactions, suggesting a possible comeback of the whales, powerful players with a big influence on the value of cryptocurrencies.<\/span>
\n<\/span><\/p>\n

Related Reading: Polygon In Peril: Will MATIC Bounce Back Or Stay Stuck In The Sub-$1 Doldrums?<\/a><\/div>\n

Whales Making Waves On The Cardano Sea<\/strong><\/h2>\n

Blockchain analytics company IntoThe Block noted an increase in Cardano<\/a> transactions topping $100,000. The average daily volume for these significant transactions during the past week came almost to $14 billion.<\/span>
\n<\/span><\/p>\n

\n

Cardano whales are busy, with an average large transaction volume of $13.84B a day in the last 7 days.<\/p>\n

For comparison, this is a third of Bitcoin’s current volume, 5x as much as Litecoin’s volume and over 16x that of Dogecoin! pic.twitter.com\/xU2XMoEQbM<\/a><\/p>\n

\u2014 IntoTheBlock (@intotheblock) April 29, 2024<\/a><\/p><\/blockquote>\n

Within the same period, this accounts for a third of Bitcoin’s transaction volume and shows increasing Cardano network activity.<\/span> Fascinatingly, the data highlights the growing interest in Cardano compared to the meme coin by dwarping Dogecoin’s huge transaction volume by a stunning sixteen times.
\n<\/span><\/p>\n

Unveiling The Mystery: Are Whales Buying Or Selling?<\/strong><\/h2>\n

Unquestionably, there is a lot of transactions, but what this means for Cardano’s price is yet unknown.<\/span> Large transactions might indicate both buying and selling activity, hence a clear price direction is not easy to forecast.
\n<\/span><\/p>\n

<\/p>\n

ADA market cap currently at $16 billion. Chart: TradingView.com<\/a><\/pre>\n
Still, the consistent volume above $10 billion over the week\u2014even with a recent price decline\u2014indicates ongoing network movement.<\/span> This might mean major internal token transfers inside the ecosystem or imply institutional investors joining the Cardano market.
\n<\/span><\/p>\n
Data Hints At Bullish Undercurrents<\/strong><\/h3>\n
Although the precise type of the significant transactions is yet unknown, another on-chain analytics tool called Santiment<\/a> shows a perhaps positive indication.<\/span> According to their data, big holdings show a developing accumulating tendency.
\n<\/span><\/p>\n
From the start of April, Addresses with between 100,000 and 100 million ADA have been progressively raising their holdings. Given their faith in the long-term viability of the project, this build-up by whales could be encouraging for Cardano’s future price.<\/span>
\n<\/span><\/p>\n
Technical Analysis Paints A Target-Rich Environment<\/strong><\/h3>\n
Using technical analysis to project Cardano’s price path, market analyst Cobra Vanguard has responded on the latest events. Starting with the beginning of the year, Vanguard notes Cardano has been trading within an upward price channel.<\/span>
\n<\/span><\/p>\n
\"\"<\/p>\n
Higher highs and lower lows in this pattern point to perhaps further price volatility. Based on this study, Vanguard specifies numerous ADA price goals; the first obstacle is $0.52.<\/p>\n
Related Reading: Ethereum Fees Dive: Will This Spark A Surge In Network Activity?<\/a><\/div>\n
Should a breach be successful, the analyst projects more ascends towards $0.57, $0.61, and $0.67.<\/span> With a positive $0.77 as the end aim, Cardano might see a substantial price rise.
\n<\/span><\/p>\n
Cardano: A Sea Of Opportunity Or A Whale’s Playground?<\/strong><\/h3>\n
The recent explosion of significant Cardano network transactions has surely created buzz among the bitcoin community.<\/p>\n
Although the precise causes of the huge volume are yet unknown, the possible involvement of whales and the increase in accumulation by big holdings offer a cautiously positive picture.<\/p>\n
Featured image from Invyce, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
Recently, Cardano (ADA), the smart contracts platform famed for its energy-efficient Proof-of-Stake consensus process, has been creating attention. On-chain data shows a notable increase in big transactions, suggesting a possible comeback of the whales, powerful players with a big influence on the value of cryptocurrencies. Related Reading: Polygon In Peril: Will MATIC Bounce Back Or Stay Stuck In The Sub-$1 Doldrums? Whales Making Waves On The Cardano Sea Blockchain analytics company IntoThe Block noted an increase in Cardano transactions topping $100,000. The average daily volume for these significant transactions during the past week came almost to $14 billion. Cardano whales are busy, with an average large transaction volume of $13.84B a day in the last 7 days. For comparison, this is a third of Bitcoin’s current volume, 5x as much as Litecoin’s volume and over 16x that of Dogecoin! pic.twitter.com\/xU2XMoEQbM \u2014 IntoTheBlock (@intotheblock) April 29, 2024 Within the same period, this accounts for a third of Bitcoin’s transaction volume and shows increasing Cardano network activity. Fascinatingly, the data highlights the growing interest in Cardano compared to the meme coin by dwarping Dogecoin’s huge transaction volume by a stunning sixteen times. Unveiling The Mystery: Are Whales Buying Or Selling? Unquestionably, there is a lot of transactions, but what this means for Cardano’s price is yet unknown. Large transactions might indicate both buying and selling activity, hence a clear price direction is not easy to forecast. ADA market cap currently at $16 billion. Chart: TradingView.com Still, the consistent volume above $10 billion over the week\u2014even with a recent price decline\u2014indicates ongoing network movement. This might mean major internal token transfers inside the ecosystem or imply institutional investors joining the Cardano market. Data Hints At Bullish Undercurrents Although the precise type of the significant transactions is yet unknown, another on-chain analytics tool called Santiment shows a perhaps positive indication. According to their data, big holdings show a developing accumulating tendency. From the start of April, Addresses with between 100,000 and 100 million ADA have been progressively raising their holdings. Given their faith in the long-term viability of the project, this build-up by whales could be encouraging for Cardano’s future price. Technical Analysis Paints A Target-Rich Environment Using technical analysis to project Cardano’s price path, market analyst Cobra Vanguard has responded on the latest events. Starting with the beginning of the year, Vanguard notes Cardano has been trading within an upward price channel. Higher highs and lower lows in this pattern point to perhaps further price volatility. Based on this study, Vanguard specifies numerous ADA price goals; the first obstacle is $0.52. Related Reading: Ethereum Fees Dive: Will This Spark A Surge In Network Activity? Should a breach be successful, the analyst projects more ascends towards $0.57, $0.61, and $0.67. With a positive $0.77 as the end aim, Cardano might see a substantial price rise. Cardano: A Sea Of Opportunity Or A Whale’s Playground? The recent explosion of significant Cardano network transactions has surely created buzz among the bitcoin community. Although the precise causes of the huge volume are yet unknown, the possible involvement of whales and the increase in accumulation by big holdings offer a cautiously positive picture. Featured image from Invyce, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":605724,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[12333,142,12332,14781],"class_list":["post-605717","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ada","tag-altcoins","tag-cardano","tag-whales"],"acf":[],"yoast_head":"\nCardano: What's Behind The $13 Billion Daily Transaction Boom?<\/title>\n<meta name=\"description\" content=\"Recently, Cardano (ADA), the smart contracts platform famed for its energy-efficient Proof-of-Stake consensus process, has been creating attention.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/uniquehot.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Cardano’s Mysterious Surge: What’s Behind The $13 Billion Daily Transaction Boom?","url":"http:\/\/uniquehot.com\/news\/cardanos-mysterious-surge-whats-behind-the-13-billion-daily-transaction-boom\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/cardanos-mysterious-surge-whats-behind-the-13-billion-daily-transaction-boom\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/04\/a_dea3d9.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/04\/a_dea3d9.jpg?fit=1200%2C628"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ada","altcoins","cardano","whales"],"dateCreated":"2024-04-30T06:00:14Z","datePublished":"2024-04-30T06:00:14Z","dateModified":"2024-07-12T05:57:08Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Cardano’s Mysterious Surge: What’s Behind The $13 Billion Daily Transaction Boom?\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/cardanos-mysterious-surge-whats-behind-the-13-billion-daily-transaction-boom\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/cardanos-mysterious-surge-whats-behind-the-13-billion-daily-transaction-boom\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/a_dea3d9.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/a_dea3d9.jpg?fit=1200%2C628\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ada\",\"altcoins\",\"cardano\",\"whales\"],\"dateCreated\":\"2024-04-30T06:00:14Z\",\"datePublished\":\"2024-04-30T06:00:14Z\",\"dateModified\":\"2024-07-12T05:57:08Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/04\/a_dea3d9.jpg?fit=1200%2C628","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/605717"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=605717"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/605717\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/605724"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=605717"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=605717"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=605717"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}