ADA moves up as whales begin to gather on the dip
Cardano’s ADA rose 6 percent on the surge in buying whale transactions on the d
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Santiment on-chain data provider has drawn the attention of its followers to an increase in whale transactions on the Cardano blockchain.
In a recent tweet, the Santiment team of analysts shared that ADA saw a nearly 6 percent rise on Friday as the number of major whale transfers on Cardano chain began to climb.
Santiment believes these trades were whales collecting Cardano’s native currency on the dip, triggering the price spike.
#cardano saw a small rebound in the second half of Friday trading after large numbers of whale transactions began to appear on the $ADA network. An extreme example of the last time whales piled up during a downturn, prices rose +28% in the span of 18 hours. https://t.co/jLJbfC1BI7 pic.twitter.com/YPaYJfgmiD
— Santiment (@santimentfeed) June 3, 2022
Earlier this week, U.Today reported that Cardano reached a milestone when the number of NFTs issued on this blockchain crossed 5 million. At the same time, ADA’s price rose about 12 percent.
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