{"id":12215,"date":"2022-03-30T02:04:09","date_gmt":"2022-03-30T02:04:09","guid":{"rendered":"http:\/\/egrowonline.com\/?p=12215"},"modified":"2022-03-30T02:04:09","modified_gmt":"2022-03-30T02:04:09","slug":"cardano-whales-on-buying-spree","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=12215","title":{"rendered":"Cardano Whales on Buying Spree"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div id=\"\">\n<section class=\"article-key-takeaways\">\n<h3>Key Takeaways<\/h3>\n<ul>\n<li>A total of 69.09 billion ADA were transacted on Mar. 28.<\/li>\n<li>Such on-chain activity points to institutional demand.\u00a0<\/li>\n<li>Further buying pressure could push Cardano to $2.\u00a0<\/li>\n<\/ul>\n<\/section>\n<section class=\"article-share top\">\n<h4>Share this article<\/h4>\n<\/section>\n<p><span data-preserver-spaces=\"true\">On-chain data reveals that institutional players and whales have been adding significant amounts of ADA to their portfolios.\u00a0<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Cardano Whales Accumulate Heavily<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Institutional interest in Cardano appears to be picking up after ADA reclaimed $1 as support.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">IntoTheBlock has <a target=\"_blank\" href=\"https:\/\/twitter.com\/intotheblock\/status\/1508747096517754884?s=20&amp;t=wS3P9BI8dWDfIBNSxnzyLQ\" rel=\"noopener noreferrer\">reported<\/a> a significant increase in on-chain activity on the Cardano network. The blockchain and cryptocurrency market analysis platform affirmed that the number of large transactions with a value greater than $100,000 has risen by more than 5,000% since the beginning of the year.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">A total of 69.09 billion ADA were transacted on Mar. 28 alone, representing 99% of the total on-chain volume. Such market behavior hints at institutional players\u2019 and whales\u2019 activity, pointing to how they may be investing and positioning themselves.<\/span><\/p>\n<figure id=\"attachment_113822\" aria-describedby=\"caption-attachment-113822\" style=\"width: 868px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" loading=\"lazy\" class=\"wp-image-113822 size-medium\" src=\"https:\/\/static.cryptobriefing.com\/wp-content\/uploads\/2022\/03\/29113821\/Screen-Shot-2022-03-29-at-4.53.30-PM-868x391.png\" alt=\"Cardano Network Activity Source: IntoTheBlock\" width=\"868\" height=\"391\" srcset=\"https:\/\/static.cryptobriefing.com\/wp-content\/uploads\/2022\/03\/29113821\/Screen-Shot-2022-03-29-at-4.53.30-PM-868x391.png 868w, https:\/\/static.cryptobriefing.com\/wp-content\/uploads\/2022\/03\/29113821\/Screen-Shot-2022-03-29-at-4.53.30-PM-1024x461.png 1024w, https:\/\/static.cryptobriefing.com\/wp-content\/uploads\/2022\/03\/29113821\/Screen-Shot-2022-03-29-at-4.53.30-PM-768x346.png 768w, https:\/\/static.cryptobriefing.com\/wp-content\/uploads\/2022\/03\/29113821\/Screen-Shot-2022-03-29-at-4.53.30-PM.png 1059w\" \/><figcaption id=\"caption-attachment-113822\" class=\"wp-caption-text\"><em>Source: <a target=\"_blank\" href=\"https:\/\/www.intotheblock.com\/\" rel=\"noopener noreferrer\">IntoTheBlock<\/a><\/em><\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">Santiment picked up on similar network activity. The behavioral analytics platform recorded a 1.7% increase in the number of whales on the Cardano network. Roughly 42 addresses holding 1,000,000 to 10,000,000 ADA were created since Mar. 21.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Such an uptick in the number of large investors behind Cardano may seem insignificant at first glance. But when considering that these whales hold between $1.2 million and $12 million in ADA, the sudden spike in buying pressure can translate into millions of dollars.<\/span><\/p>\n<figure id=\"attachment_113819\" aria-describedby=\"caption-attachment-113819\" style=\"width: 868px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" loading=\"lazy\" class=\"wp-image-113819 size-medium\" src=\"https:\/\/static.cryptobriefing.com\/wp-content\/uploads\/2022\/03\/29113803\/Cardano-ADA-16.44.44-29-Mar-2022-868x294.png\" alt=\"Cardano Network Activity\" width=\"868\" height=\"294\" srcset=\"https:\/\/static.cryptobriefing.com\/wp-content\/uploads\/2022\/03\/29113803\/Cardano-ADA-16.44.44-29-Mar-2022-868x294.png 868w, https:\/\/static.cryptobriefing.com\/wp-content\/uploads\/2022\/03\/29113803\/Cardano-ADA-16.44.44-29-Mar-2022-1024x347.png 1024w, https:\/\/static.cryptobriefing.com\/wp-content\/uploads\/2022\/03\/29113803\/Cardano-ADA-16.44.44-29-Mar-2022-768x260.png 768w\" \/><figcaption id=\"caption-attachment-113819\" class=\"wp-caption-text\"><em>Source: <a target=\"_blank\" href=\"https:\/\/santiment.net\/\" rel=\"noopener noreferrer\">Santiment<\/a><\/em><\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">The rising interest in Cardano has helped prices <a target=\"_blank\" href=\"https:\/\/cryptobriefing.com\/as-momentum-returns-cardano-ripple-target-1\/\" rel=\"noopener\">reclaim<\/a> the psychological $1 level as support. Now, transaction history shows that the next hurdle to overcome sits at $1.36, where more than 690,000 addresses had previously purchased over 6.41 billion ADA. Breaching this supply wall could help the so-called \u201cEthereum killer\u201d surge toward $2.\u00a0\u00a0<\/span><\/p>\n<figure id=\"attachment_113821\" aria-describedby=\"caption-attachment-113821\" style=\"width: 868px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" loading=\"lazy\" class=\"wp-image-113821 size-medium\" src=\"https:\/\/static.cryptobriefing.com\/wp-content\/uploads\/2022\/03\/29113816\/Screen-Shot-2022-03-29-at-4.47.33-PM-868x338.png\" alt=\"Cardano Network Activity \" width=\"868\" height=\"338\" srcset=\"https:\/\/static.cryptobriefing.com\/wp-content\/uploads\/2022\/03\/29113816\/Screen-Shot-2022-03-29-at-4.47.33-PM-868x338.png 868w, https:\/\/static.cryptobriefing.com\/wp-content\/uploads\/2022\/03\/29113816\/Screen-Shot-2022-03-29-at-4.47.33-PM-1024x398.png 1024w, https:\/\/static.cryptobriefing.com\/wp-content\/uploads\/2022\/03\/29113816\/Screen-Shot-2022-03-29-at-4.47.33-PM-768x299.png 768w, https:\/\/static.cryptobriefing.com\/wp-content\/uploads\/2022\/03\/29113816\/Screen-Shot-2022-03-29-at-4.47.33-PM.png 1059w\" \/><figcaption id=\"caption-attachment-113821\" class=\"wp-caption-text\"><em>Source: <a target=\"_blank\" href=\"https:\/\/www.intotheblock.com\/\" rel=\"noopener noreferrer\">IntoTheBlock<\/a><\/em><\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">It is worth noting that since whales have been increasing their holdings over the past few weeks, they have been able to build a formidable support floor at $1. Unless a black swan event happens, this demand barrier could prevent Cardano from incurring significant losses.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\"><em>Disclosure: At the time of writing, the author of this piece owned BTC and ETH.\u00a0<\/em> \u00a0<\/span><\/p>\n<section class=\"article-share bottom\">\n<h4>Share this article<\/h4>\n<\/section>\n<section class=\"article-footer\">\n<div class=\"disclaimer\">\n<div class=\"disclaimer-content\">\n<p>The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.<\/p>\n<p>You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.<\/p>\n<p>See <a target=\"_blank\" href=\"https:\/\/cryptobriefing.com\/terms-and-conditions\" rel=\"noopener\">full terms and conditions<\/a>.<\/p>\n<\/div>\n<\/div>\n<\/section>\n<section class=\"recommended-posts\">\n<div class=\"section-content\">\n<div class=\"posts-list\">\n<div class=\"post-item na-item\" data-na_id=\"109209\" data-na_location=\"recommended\">\n<a target=\"_blank\" class=\"article-url\" href=\"https:\/\/pages.tatum.io\/nft-express?utm_source=CryptoBriefing&amp;utm_medium=PaidContent&amp;utm_campaign=22-Q1-B2B-NFT-Express\" rel=\"noopener\"><\/p>\n<div class=\"info\">\n<h3 class=\"title\">NFT Express: Your on-ramp to the world of NFTs<\/h3>\n<p>\nAt Tatum, we\u2019ve already made it super easy to create your own NFTs on multiple blockchains without having to learn Solidity or create your own smart contracts. 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The ADA token\u2019s inclusion in a new Grayscale fund and Coinbase enabling Cardano staking have likely contributed to the token\u2019s upward&#8230; <\/p>\n<\/div>\n<\/div>\n<div class=\"post-item \">\n<a target=\"_blank\" class=\"article-url\" href=\"https:\/\/cryptobriefing.com\/new-cardano-dex-hopes-to-overcome-chains-scaling-woes\/\" rel=\"noopener\"><\/p>\n<div class=\"info\">\n<h3 class=\"title\">New Cardano DEX Hopes to Overcome Chain\u2019s Scaling Woes<\/h3>\n<p>\nAdaSwap, a new ecosystem builder on Cardano, announced Tuesday that it had raised $2.6 million to build \u201cthe best, decentralized exchange on Cardano.\u201d AdaSwap Raises $2.6M to Build First Working&#8230; <\/p>\n<\/div>\n<\/div>\n<div class=\"post-item \">\n<a target=\"_blank\" class=\"article-url\" href=\"https:\/\/cryptobriefing.com\/cardano-announces-dappstore-for-certified-defi-applications\/\" rel=\"noopener\"><\/p>\n<div class=\"info\">\n<h3 class=\"title\">Cardano Announces dAppStore for Certified DeFi Applications<\/h3>\n<p>\nInput Output (IOHK), the development company behind Cardano, has announced the upcoming store for decentralized applications on the network, called Plutus dAppStore. In this storefront, developers will be able to&#8230; <\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/cryptobriefing.com\/cardano-whales-on-buying-spree\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways A total of 69.09 billion ADA were transacted on Mar. 28. Such on-chain activity points to institutional demand.\u00a0 Further buying pressure could push Cardano to $2.\u00a0 Share this article On-chain data reveals that institutional players and whales have been adding significant amounts of ADA to their portfolios.\u00a0 Cardano Whales Accumulate Heavily Institutional interest [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":12216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[44],"tags":[1140,266,5305,1582],"class_list":["post-12215","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ada","tag-buying","tag-cardano","tag-spree","tag-whales"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/03\/whale-cover-768x403.jpeg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/12215","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12215"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/12215\/revisions"}],"predecessor-version":[{"id":12217,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/12215\/revisions\/12217"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/12216"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12215"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12215"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12215"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}