Cardano Sees Massive 27 Billion ADA Whale Transactions Amid Price Drop

Cardano Sees Massive 27 Billion ADA Whale Transactions Amid Price Drop

Cardano, the eighth largest cryptocurrency by market cap, has seen a massive transaction volume of 27 billion ADA. According to IntoTheBlock, Cardano’s huge daily trading volume was 27.59 billion ADA, up from the previous day’s record of 26.9 billion ADA.

Cardano, the eighth largest cryptocurrency by market cap, has seen a massive transaction volume of 27 billion ADA. According to IntoTheBlock, Cardano’s huge daily trading volume was 27.59 billion ADA, up from the previous day’s record of 26.9 billion ADA.

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In the block classifies large transactions as those involving transfers of more than $100,000. In this scenario, the high transaction volume metric represents the total amount of cryptocurrency moved in those transactions.

That said, large trading volumes provide an estimate of the total amount traded by whales and institutional participants on a particular day.

Since whales are large investors who own a significant amount of a cryptocurrency, the sustained interest from this category of holders may be an indication of positive things to come if the broader market stabilizes.

In essence, market sentiment has slowed down following ETF listings and ADA is mirroring the overall market trend.

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Cardano (ADA) Could Achieve 80% Breakout With This Major Signal

ADA reached highs of $0.619 on January 11 and has declined since then. Cardano’s ADA coin was last trading near $0.493, down 5% in 24 hours.

IOG celebrates Byron’s birthday

cardano builder Input Output Global (IOG) has taken to

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Cardano kicks off 2024 with major updates and improvements

The Cardano narrative began in 2015 with the vision of addressing the three key concerns facing all blockchain networks: scalability, sustainability, and interoperability. Two years, thousands of GitHub commits, and hundreds of hours of research later, the first version of Cardano, Cardano Byron, was released in September 2017.

The Byron reboot updated numerous components of the Cardano network, including the Cardano node, Cardano explorer, and wallet backend, as well as delivering Daedalus, IOG’s official desktop wallet. Yoroi, a light wallet from EMURGO based on IOG’s original development effort, was also launched, along with other innovations.

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