Fun

Cardano Price Witnesses Bullish Resurgence With 26% Rally — Here’s The Likely Catalyst

News Feed - 2025-01-05 05:01:00

Este artículo también está disponible en español.


The Cardano price has been in red-hot form over the past few days, making a highly anticipated return to above $1 on Friday. This recent bullish momentum made ADA the best-performing asset among the top 10 largest cryptocurrencies in the past week.


While this burst of positive price action could be linked to the improving climate of the altcoin market, it appears that the increased activity of large holders (whales) is responsible for the latest price surge. Here’s how much the ADA whales bought in recent days. Cardano Whales Purchase 40 Million ADA In 2 Days


Prominent crypto analyst Ali Martinez revealed in a new post on the X platform that the Cardano whales have become increasingly active in the market over the last few days. This on-chain observation is based on the increase in the holdings of investors who own between 10 million and 100 million coins.


Related Reading: Analyst Says Dogecoin Price Can Break To $0.48, But This Needs To Happen First


The investor cohort under review is a class of whales, which refers to entities that wield significant influence over the market due to the amount of cryptocurrencies they own. Many investors pay attention to this class of large holders, as the market often reacts to their movement. Source: Ali_charts/X


According to data from Santiment, Cardano whales acquired more than 40 million ADA tokens (worth about $42.8 million at the current market value) in 48 hours. This level of buying activity highlights the strong faith in the asset’s promise despite the sluggish market climate.


As seen with the price action over the past few days, increased whale activity can have a positive impact on the price of Cardano. Hence, sustained buying activity could see the altcoin’s price to its highs of early December 2024. What Next For Cardano Price?


As of this writing, the Cardano price sits just above the $1 mark, reflecting a nearly 2% decline in the past 24 hours. However, this negative performance has barely impacted the altcoin’s weekly gain, which currently stands at around 26%.


In another post on X, Martinez revealed that the Cardano price is playing out like it did in the previous cycle. During the last bull cycle, the ADA token grew exponentially in less than a year, reaching the current all-time high price of $3.09. Source: Ali_charts/X Related Reading XRP Price Prediction To $4.9: How The 1-Day 50 MA Will Drive The Next Wave 2 days ago


The analyst believes that if the altcoin follows the recent historical pattern, a move to $4 could be imminent. However, from the highlighted chart, the Cardano price might travel as high as $6 before hitting a major roadblock. The price of ADA on the daily timeframe | Source: ADAUSDT chart on TradingView Featured image from Solodev, chart from TradingView

News Feed

Former Microsoft Engineer to Serve 9 Years in Prison in a Case That Involves Use of Bitcoin Mixers
Former Microsoft Engineer to Serve 9 Years in Prison in a Case That Involves Use of Bitcoin Mixers A U.S. court in Seattle has sentenced a former Microsoft engin
Fintech Arm of Chinese Insurance Giant Files for US IPO After Blockchain Push
OneConnect Financial Technology, the fintech arm of China’s largest insurance company, filed a prospectus on Wednesday for an initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC). Th
Stablecoins Ignite Record-Breaking May, Supply Jumps To $244B – Data
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
US Bitcoin, Ethereum ETFs hit $6B volume amid market rout
Felix Ng8 hours agoUS Bitcoin, Ethereum ETFs hit $6B volume amid market routBitcoin plunged to under $50,000 at the start of US trading on Aug. 5, prompting a huge spike in trading volumes of crypto-related ETFs.5226 Tot
‘No Argument’ for Replacing Dollar’s Global Role With Crypto: Ex-Fed Official
A former official from the U.S. Federal Reserve has responded to a proposal from the chief of the Bank of England that a cryptocurrency could be more beneficial in international markets than the U.S. dollar.
Apple supercharging Siri and iOS with ‘Apple Intelligence’ and OpenAI
Tristan GreeneJun 08, 2024Apple supercharging Siri and iOS with ‘Apple Intelligence’ and OpenAISocial media and tech news pundits haven’t responded positively to the nomenclature.8744 Total views17 Total sharesList
83 Tons of Fake Gold Bars Backing $3 Billion Loans in China: This Man Claims to Know the Truth
83 Tons of Fake Gold Bars Backing $3 Billion Loans in China: This Man Claims to Know the Truth The gold industry was shaken when it was discovered that 83 tons o
William Suberg57 minutes agoInordinately high — Bitcoin Ordinals send BTC transaction fees to new 5-month peakBitcoin users attempting to send on-chain BTC transactions are footing the bill for a fresh surge in Ordinal
German, US gov‘ts move $150M in crypto
Josh O"Sullivan14 hours agoGerman, US gov‘ts move $150M in cryptoThe German and U.S. governments make strategic moves with significant Bitcoin and Ethereum transfers, drawing market attention.4576 Total views6 Total sh
Unofficial GameStop memecoin surpasses $100M in market cap
Zhiyuan Sun8 hours agoUnofficial GameStop memecoin surpasses $100M in market capThe Solana memecoin has soared more than 2,000% in the past week following the surge in GameStop’s stock.3471 Total views5 Total sharesLis
Marvel to Launch Spider-Man NFTs This Week — NFT Comic, ‘Super-D Figures’ to Follow
Marvel to Launch Spider-Man NFTs This Week — NFT Comic, "Super-D Figures" to Follow On August 5, Orbis Blockchain Technologies Limited and Marvel Entertainment
JPMorgan Praises Bitcoin Then Pushes JPM Coin, Sets Up Dedicated Crypto Unit
JPMorgan Praises Bitcoin Then Pushes JPM Coin, Sets Up Dedicated Crypto Unit After JPMorgan analysts praised bitcoin, saying that the price of the cryptocurrency