Dozens of New Cardano Whales Emerge As ADA Bounces Big in Less Than Two Weeks: Analytics Firm
Dozens of new Cardano (ADA) whale and “shark” addresses are emerging amid Cardano’s price surge in the early days of 2023, according to the crypto analytics firm Santiment.
Santiment says 28 new addresses holding at least one million ADA have formed since the beginning of the year.
The analytics firm also notes that the Ethereum (ETH) competitor’s trading volume has hit a two-month high.
Popular crypto analyst Michaël van de Poppe told his 644,200 Twitter followers over the weekend that ADA would need to surge above $0.30 to break its downtrend, which it accomplished on Sunday. ADA is trading around $0.322 at time of writing and is up more than 31% since December 31st.
ADA’s recent price pump, however, pales in comparison to that of the player-controlled blockchain gaming platform Gala (GALA), up more than 155% since December 31st. The Ethereum-based project surged after its team announced they have begun development for films with American actors Dwayne “The Rock” Johnson and Mark Wahlberg.
Santiment notes GALA has seen a two-month high spike in whale transactions worth more than $100,000 amid its price explosion. The 99th-ranked crypto asset by market cap is trading around $0.0422 at time of writing.
GALA remains nearly 95% down from its all-time high of more than $0.82, which it hit in November 2021.
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
The post Dozens of New Cardano Whales Emerge As ADA Bounces Big in Less Than Two Weeks: Analytics Firm appeared first on The Daily Hodl.
Go to Source
Author: Daily Hodl Staff
