Cardano Price Surges as Whale Buys 130 Million ADA Coins
Cardano prices (ADA) have been on the rise lately, thanks to some big moves by crypto whales. In the past week, ADA has gone up by more than 21%, with a 10% increase in just the last 24 hours. Right now, you can trade these tokens for over 1 US dollar (about IDR 15,800) and ADA is sitting pretty at 9th place based on market cap rankings.
The recent surge in ADA prices is mostly due to the fact that over 130 million ADA were scooped up by whales when prices were down from early November to the 12th. It seems like these big investors are expecting prices to go up, which is exactly what happened a few days later.
Of course, it wasn’t all smooth sailing. Once ADA hit a high of 1.10 US dollars (around Rp. 17,380), some of these whales decided to cash out and the number of big investors went down a bit. But when the price dipped back below 0.80 US dollars (around Rp. 12,640) on November 20, the interest in buying started to pick up again.
Data from IntoTheblock shows a 35.54% increase in inflows from large investors in the past week. And over the last 30 days, there’s been a whopping 51,478% increase in inflows, showing that these big investors are feeling pretty confident about ADA for the long haul.
As of Friday, November 29, Cardano was trading at IDR 16,795 at 14:11 WIB this afternoon. In the last 24 hours, the price of ADA coins went up by 4.9%. Over the past month, ADA’s price has shot up by 195%, thanks to growing interest from investors in Cardano and its ecosystem. Plus, there’s the added excitement of Cardano founder Charles Hoskinson meeting with Trump to talk about the state of crypto in the US.
