Cardano Price Rises After Whale Crypto Nyerok 130 Million ADA Coins

Cardano (ADA) now occupies the ninth position based on the crypto market capitalization ranking. (Photo; Doc. NFT Now)

JAKARTA - Cardano prices (ADA) have experienced a significant spike in recent days, driven by massive accumulation activity by large investors or commonly called crypto whales. In the past week, ADA recorded an increase of more than 21%, including a 10% spike in the last 24 hours. Now, these tokens are trading above 1 US dollar (approximately IDR 15,800) and occupying 9th based on market cap rankings.

The recent rise in ADA prices was largely influenced by the accumulation of more than 130 million ADA by whales during the decline in prices from early November to 12 November. This strategy appears to be driven by expectations of price increases, as evidenced by the spike that occurred a few days later.

However, the accumulation did not take place without a sell move. After reaching a peak price of 1.10 US dollars (around Rp. 17,380), a number of large investors began to take profits, so the number of whales decreased slightly. However, when the price fell again below 0.80 US dollars (around Rp. 12,640) on November 20, interest in buying again increased.

Then, data from IntoTheblock recorded a 35.54% jump inflow from large investors in the past week. In fact, inflows over the past 30 days have increased to 51,478%, underscoring the large investor's confidence in ADA as a long-term asset.

On Friday, November 29, Cardano was trading at IDR 16,795 at 14:11 WIB this afternoon. In the last 24 hours, the price of ADA coins recorded a positive achievement with an increase of 4.9%.

Meanwhile, in the past month, ADA's price performance has increased by 195%. This increase is inseparable from the increasing interest of investors in Cardano and its ecosystem. In addition, the nickname of Cardano founder Charles Hoskinson to meet Trump some time ago to discuss crypto conditions in the US.