Cardano Price Rises Following Whale Purchase of 130 Million ADA Coins
Cardano (ADA) prices have been on the rise lately, thanks to significant activity from large investors known as crypto whales. Over the past week, ADA has seen a surge of more than 21%, with a 10% increase just in the last 24 hours. This has pushed the tokens above 1 US dollar (around IDR 15,800) and secured the 9th spot in the market cap rankings.
The recent spike in ADA prices can be attributed to the accumulation of over 130 million ADA by whales during a price decline from early November to November 12. It seems that these investors were anticipating a price increase, which was confirmed by the surge that followed a few days later.
Despite the accumulation, some investors took the opportunity to sell off their holdings after ADA reached a peak price of 1.10 US dollars (approximately Rp. 17,380). This led to a slight decrease in the number of whales. However, when the price dipped below 0.80 US dollars (around Rp. 12,640) on November 20, buying interest picked up again.
Data from IntoTheblock shows a 35.54% increase in inflow from large investors in the past week, with a staggering 51,478% increase over the past 30 days. This indicates a strong confidence from large investors in ADA as a long-term asset.
As of Friday, November 29, Cardano was trading at IDR 16,795, with a 4.9% increase in the last 24 hours. Over the past month, ADA has seen a 195% price increase, reflecting growing investor interest in Cardano and its ecosystem. Additionally, Cardano founder Charles Hoskinson’s meeting with Trump to discuss crypto regulations in the US has also generated interest in the project.
