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Cardano (ADA)<\/a> has recently surged to remarkable heights in whale activity, with a staggering average daily transaction volume of $13.84 billion over the past week, as reported by\u00a0IntoTheBlock<\/a>. This influx of large transactions places Cardano’s activity at one-third of Bitcoin’s current volume, surpassing Litecoin by a striking 500% and outpacing Dogecoin by an astonishing 1,600%.<\/p>\n Delving deeper into the on-chain data reveals a dynamic landscape of fluctuating volumes. Despite a slight decline from its peak of 27.67 billion ADA (equivalent to $14.08 billion), the volume of large transactions remains formidable at 23.22 billion ADA (equivalent to $10.87 billion).\u00a0<\/p>\n Cardano whales are busy, with an average large transaction volume of $13.84B a day in the last 7 days.<\/p>\n For comparison, this is a third of Bitcoin’s current volume, 5x as much as Litecoin’s volume and over 16x that of Dogecoin! pic.twitter.com\/xU2XMoEQbM<\/a><\/p>\n \u2014 IntoTheBlock (@intotheblock) April 29, 2024<\/a><\/p><\/blockquote><\/div>\n Remarkably, this still represents a substantial increase of almost 700 million ADA (nearly $350 million) from previous levels.<\/p>\n However, amid this surge in whale activity, the\u00a0price of ADA<\/a> has taken a hit. Experiencing a decline of over 7.8% in the past week alone, the\u00a0Cardano<\/a> token opened the new week with continued downward momentum, currently resting at $0.4543 per token.\u00a0<\/p>\n Despite the impressive volume of whale transactions, it appears that this surge has not translated into a corresponding surge in the token’s market value.\u00a0<\/p>\n The divergence between on-chain activity and market sentiment raises questions about the underlying factors driving Cardano’s recent surge in whale activity and how it will affect the token’s price.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" Cover image via stock.adobe.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial […]<\/p>\n","protected":false},"author":2,"featured_media":292909,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-292908","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/292908","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=292908"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/292908\/revisions"}],"predecessor-version":[{"id":292911,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/292908\/revisions\/292911"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/292909"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=292908"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=292908"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=292908"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
Cardano (ADA) price outlook<\/h2>\n
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