Whale Cardano Transactions (ADA) Increase Drastically, Positive Signal For ADA!

Cardano crypto asset. (Photo; Doc. CoinMarketCap)

JAKARTA - While the crypto market is declining, Cardano's digital assets (ADA) show a positive upward potential with the increase in transactions of large crypto asset or whale ADA owners. The crypto analytics firm Santiment reveals that Cardano's major transaction metric, often referred to as whale activity, has recently peaked since November last year. This phenomenon, according to experts, could be a sign of a long-awaited price reversal.

On Monday, April 29, Cardano's whale transactions, valued more than US$100,000 (approximately Rp1,625 billion), rose sharply, reaching its highest level since November 8. Santiment attributes this spike to a potential price change, a pattern that has been recorded in the history of the crypto market. Since March 13, ADA's market cap has shrunk by 43%, a significant drop and sparked speculation among investors and analysts.

Currently, ADA is trading in the range of 0.441 US dollars (approximately IDR 7,172.55), placing it in 11th place by market cap. However, in the last 24 hours, ADA has decreased by almost 4%, more than 12% in the past week, and more than 32% in the past month. This decline reflects the uncertainty that hit the crypto market in general.

Interestingly, Santiment also noted that the recent volume of crypto trading hit its lowest level since early January, an indicator often interpreted as the uncertainty or prudence of traders.

In a broader context, Bitcoin, as the leader of the crypto market, has seen a 60-25% drop in trading volume since its trading peak in late February. Analysts suggest paying attention to the volume surge as a potential indicator of market rally that may occur as it enters May.