Now, with reports showing the rise of large transactions on the Cardano network, the community speculates that this could be due to institutional investors and whales in the market starting to move. In the last 24 hours, large transactions were at 4.73. k
“There is an increase in the number of large ADA transactions on the Cardano network, indicating that institutional investors and whales are moving, bullish trends are coming,” analyst Ali said.
Over the past few weeks, the Cardano whale has bought $560 million of ADA, valued at $218.4 million. tend to tend
The TVL, or value locked on the platform, rose to $168.68 million from Cardano’s January TVL of $48.95 million.
The Cardano platform now supports a wider range of services, including DeFi and NFT, and has a network wallet called Lace, which allows users to transact Cardano digital assets and stake ADA coins directly from Lace to earn rewards.
More developers have started to use the Cardano network, which also has a positive effect on ADA prices. ADA is currently priced at $0.457554, up more than 5% over the last 24 hours. CoinGecko
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