Cardano (ADA) whales are in rebellion mode, trying to help the protocol maintain its ongoing bull run. After falling just 4% this week, the price of ADA is now in recovery mode. Cardano has recovered more than 1.3% in 24 hours and is trading at $0.3353, according to CoinMarketCap.
Cardano collision with a whale
This huge price hike was not due to market sentiment; It was provoked by Cardano’s whales. According to IntoTheBlock, the volume of large transactions jumped by more than 10% in 24 hours. After the pump, the whales moved 19.5 billion ADA worth $6.48 billion.
By definition, large transactions are transactions of $100,000 or more. When this particular whale indicator rises, market sentiment is generally positive. Cardano is no stranger to such huge transaction flows, the volume of which usually exceeds that of Ethereum.
According to IntoTheBlock, more than 3,100 of these large transactions were carried out in 24 hours. Considering this compared to the weekly high of 3,320 transactions, it is safe to assume that the ADA whales are up to something big.
The impact of this huge accumulation of Cardano is often reflected in price hikes. If this buying boom continues over the next few days, the coin could see its best week this month.
The fight for Cardano supremacy
In addition to his main networking activities, Charles Hoskinson, founder of the Cardano protocol, made headlines last week. From its global campaign with Input Output Global to technology comparisons with Solana, one message has resonated: Cardano is superior.
However, current technical analysis shows that both protocols have strengths and weaknesses. Cardano is known for its reliability and security, Solana prides itself on flexibility and speed. Which is better remains the question, which will withstand the worst drawdowns in the market right now.
