Cardano (ADA), Whale Transactions Indicating Another 36% Rally

The crypto markets have rebounded strongly in 2023 and altcoins have had a great year. Cardano’s native cryptocurrency ADA, which has risen by more than 60% in the past year, is currently trading at $0.399 and has a market cap $13.8 billion.
The recent price decline in Cardano is due to a strong increase in whale numbers. The whale transactions of $100K+ have reached a multi-week peak. Santiment, an on-chain data provider, reported the following:


“Cardon’s value is up +65% by 2023. Key shark and whale accumulation has a lot to play in this. Since Nov. 8, addresses holding 100K to 100M $ADA have the most money in their combined wallets. Today’s $100k+ whale transactions reached a 12-week high.
Courtesy: SantimentCardano (ADA) Set For 36% Price Gains?
The last week has seen the largest $100K+ transactions and the highest whale activity in nine years. Historical charts show that the ADA price climbed by more than 36% the last time this happened. 36 addresses have been added to the ADA coin pool, each holding between 1 million and 100 million ADA coins. According to Santiment:
“Cardano whale numbers increased in 2023, and large transactions have notable broken out.” This was the last time there were so many $100k+ $ADA transactions. Its price jumped +36% between the beginning of that week and its local peak in early June.
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Courtesy: Santiment

SundaeSwap, the Cardano’s own decentralized exchange, has made a significant contribution to the governance model. SundaeSwap Labs recently proposed the use non-blockchain-based audible technology for governance. This technology comes with a set rules for consideration, voting, and approval of future proposals.
These rules must be submitted by February 19, 2023. To suggest changes, investors must have at least 10,000 SUNDAE tokens valued at around $200 according to the current price. Investors can have any number of SUNDAE tokens to cast a vote.

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