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Whales Bet Big on ADA, But Can Cardano Overcome Rally Hurdles?
The recent surge in large transactions within the Cardano network has led to a significant accumulation of 160 million ADA by whales. According to data from crypto analyst Ali Martinez, these large-scale investors have acquired this substantial amount since the price drop to $0.91.
Notably, the concentration of holdings among mid-sized investors (addresses holding between $1 million and $10 million in ADA) has increased by a staggering 67.29% over the past month. This growth is more pronounced than other wallet categories, highlighting the market’s shift towards long-term investment strategies.
Despite these promising trends, it remains uncertain whether Cardano can overcome current rally hurdles. The overall sentiment remains evenly distributed among bulls and bears, with 95 instances of each trading activity.
Source: www.crypto-news-flash.com
