Cardano (ADA) large transactions greater than $100K spike 175% as price gains: details ADA CardanoCommunity
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Large transactions are those in which the amount transferred exceeds $100,000, according to IntoTheBlock. The on-chain volume of these transactions gives an idea of the amount whales and institutional players transact on a given day. Increases in the volume of large transactions indicate increased activity among institutional buyers and sellers., on-chain analytics firm Santiment, in its latest analysis, notes that large transactions, or transactions worth more than $100,000, might be essential to predict long-term price changes. This is because Cardano witnessed a massive surge in large transactions in May 2021 and September 2021, when it reached all-time highs.At the time of publication, ADA was trading at $0.83, up 6.
ADA recovered toward the $0.868 level on Feb. 25 after a sell-off to the $0.74 level in the prior day. ADA broke below the $1 support in this recent sell-off, a crucial level it defended mostly in January. If buying activity resumes, no immediate resistance exists at current levels, suggesting prices could move to the $1 level. noted that Cardano ''shark addresses'' holding 10,000 to 100,000 ADA tokens have accumulated almost half of Cardano's total supply of 34.
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