• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
No Result
View All Result
Breaking News: Dogecoin (DOGE) Soars 8%, But An Uptick In This Metric Suggests A Pullback
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Dogecoin (DOGE) Soars 8%, But An Uptick In This Metric Suggests A Pullback
Cardano

Cardano: Growing Whales’ Appetite Gives ADA Price More Flavor

David Atlee by David Atlee
3 weeks ago
in ADA
Reading Time: 2 mins read
Advertisement

Following the overall decline in the crypto market, Cardano recorded a two-year low. The coin fell to $0.24 through a four-week bearish impact. ADA lost over 25% of its value through its fall in December 2022.

Volatility remains one of the notable attributes of the crypto industry. Sometimes, the price action of crypto assets is the main attractive aspect for traders and Investors as they reap massively when there is high volatility.

Related Reading: Solana Leads Crypto Market Gains, How Long Will This Continue?

However, Cardano’s token is gradually staging a rebound this January. ADA has impressively reclaimed about a third of its lost value at the beginning of this year.

Get 30 FREE SPINS at Punt Casino - NO DEPOSIT REQUIRED! Start Playing Now.
No Deposit 40 FREE SPINS at Wild.io on SIGN UP. Wheel of fortune, daily bonuses, 10 BTC in prizes monthly! Start Playing Now!

At the time of writing, ADA is trading around $0.2687, indicating an increase over the past 24 hours. ADA price is spiking after a significant plunge the previous year. Currently, ADA boasts a market cap of about $9.123 billion and a market dominance of about 1.11%.

Also, as per CoinMarketcap ranking, ADA is now rated in the 9th position of top crypto assets in capitalization. If ADA continues to stay in recovery mode and jumps above the $0.30 mark, it might replace Dogecoin taking the eighth top spot by market capitalization.

Investors that bought ADA at the support level of $0.24 are minting profits, adding more pressure on the resistance at $0.27.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

Cardano Witnesses Whale Accumulation

Cardano is witnessing more whale accumulation of its native token, ADA. Data from WhaleStats shows that huge holders of BNB tokens are now massively purchasing ADA. This trend places ADA at the top of the list of actively purchased tokens from the beginning of 2023.

ADA has recorded about $250 million in its past 24-hour trading volume. This signifies about an 81.95% surge in its trading volume.

Whales Interest In Cardano Spikes ADA Price
Cardano price spikes on the daily chart l ADAUSDT on Tradingview.com

The current report of the top BNB whales addresses shows that they hold a total of 19.9 million ADA tokens. This is worth about $5.19 million at the current crypto market prices.

Price Sustainability For Cardano

There are still doubts about the sustainability of the new Cardano bullish movement. Recall that these whales moved ADA tokens massively from their holdings last December. This brought a drop from 211,854 to 907 tokens in the ADA position size.

Also, it created a price drop for Cardano as of December 2022 as ADA dipped without a correlation to the market trend.

Related Reading: Bottom Signal: Bitcoin MVRV Ratio Falls To Three-Year Lows

As per CoinCodex price prediction data, Cardano will still surge for the next month. ADA is recovering from the previous losses and might continue to mint more gains.

The token has recorded 12 out of 30 as green days, equivalent to 40%. Also, with its new bullish trend, ADA will likely mint more gains in the next 24-hour high.

Tags: ADAUSDTCardanocrypto
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
David Atlee

David Atlee

Related Posts

Cardano (ADA)

Cardano Whales Start 2023 With Accumulation Trend That Could Be Bullish For ADA

3 weeks ago
Cardano Price

Cardano Price Consolidates, When Should You Short Again?

4 weeks ago
Cardano (ADA) Price Prediction

Cardano (ADA) Price Prediction: Downtrend Far From Over, $0.22 Still In Play

1 month ago
Cardano (ADA)

Cardano (ADA) Falls Below Critical Point, Why There Is More Pain To Come

1 month ago
Cardano (ADA)

Cardano Community Expects ADA To Jump 50% By End Of Year, Is This Possible?

1 month ago
cardano

Cardano Sees A Spike In On-Chain Activity, Should You Buy ADA Now?

2 months ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
Metaspins

Metaspins

Review · Visit
Coinplay

Coinplay

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
Vave

Vave

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

Solana (SOL) and LEO Token (LEO) Witness Steep Decline; Flasko (FLSK) Looking To Help Investors Recover Loss

January 26, 2023

BudBlockz (BLUNT) Emerges as a Haven as Bitcoin Cash (BCH) and Stellar (XLM) Struggle to Grow

January 26, 2023

The Top Picks for a Bear Market: Hedera (HBAR), Toncoin (TON), and Orbeon Protocol (ORBN)

January 26, 2023

STEPN (GMT) gains 21% as GameFi, and NFT Industries Suddenly Bounce Back, Decentraland (MANA) named one of the top creditors of bankrupted Genesis Global, Snowfall Protocol (SNW) Seems like the best buy in 2023

January 26, 2023

Polkadot (DOT) On the Rise Following New Releases This Week, Tron (TRX) Down 3% , Snowfall Protocol Is Giving Investors an Edge Over the Bear Market In 2023 With Over 500% Price Gain

January 26, 2023

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.