Crypto News – In an X post yesterday, the blockchain intelligence company Santiment brought attention to the notable increase in Cardano’s (ADA) market capitalization.
Sharp Increase in ADA Market Cap: Cardano Whales Take Action
In addition to growing by more than 9% over the last day, the altcoin’s valuation increased by more than 36% during the previous two weeks, according to the post.
A few on-chain measures for Cardano before this hike, according to Santiment, indicated that this increase would occur soon. The Cardano network witnessed a notable surge in address activity and whale transactions, reaching their greatest points in the last three months.
32% Increase in Cardano Whales
Over the previous three weeks, ADA address activity increased by more than 23%, according to a more thorough examination of Cardano’s on-chain analytics. The number of ADA whale transactions rose by more than 32% in the same time frame.
ADA was able to report a gain over the previous day, according to statistics from the cryptocurrency market tracking website CoinMarketCap as of the time of publication. The fact that the bulk of the market was losing money during the time this altcoin’s price spike occurred makes it all the more remarkable. The price of ADA increased by a whole day, which also improved the weekly performance of the cryptocurrency. The Ethereum killer then saw an increase of 11.54% during the previous week.
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