For any cryptocurrency project, addresses containing 10,000 to 10,000,000 project tokens are the main stakeholders. Their trading activities are a major determinant of what to expect from the price of a token.
According to data from Emotionaddresses containing from 10,000 to 10,000,000 of ADA Cardano The tokens have intensified their accumulation trend over the past few days. Since July 27, these titles combined have added 0.46% of ADA’s current supply to their portfolios. This represents an ADA buildup of over $138 million in about ten days.
Was there any effect on the price in the last 10 days? lets take alook.
ADA doesn’t care
Despite a slight uptick in ADA whale accumulation since July 27, the price of the alternative has mainly consolidated in a narrow range since then. With hands exchanging at $0.5174 at the time of writing, ADA managed to rally from the $0.5105 price level that closed its trading day on July 27.
Interestingly, despite the increase in the accumulation of whales over the past 10 days, commercial activity during that period recorded a gradual decline. At 520.56 million at press time, the token trading activity has fallen by 47% since a record high of 1.1 billion on July 27.
On the daily chart, the ADA’s Relative Strength Index (RSI) and Money Flow Index (MFI) are spotted at 56.18 and 62.01 respectively. This indicates a decrease in buying pressure.
On the price front, the last 24 hours have seen ADA price up 1.42% on the charts,
According to Santiment, during the period under review, the 30-day value-added rate for ADA increased to +5.499%. This indicates that a large number of investors have made profits during this time. However, with sentiment likely in the negatives at press time, a price bounce may be something to look for, especially for those who want to stand up to the crowd.
distance delay From Cardano’s Vasil upgrade on July 28, network development activity has also been flattened. With a 0.11% drop in development activity in the past 10 days, one might wonder if the upgrade has actually been diverted to further testing as the project claimed.
The past ten days have also been marked by a social decline. Their social dominance and social size decreased by 31% and 89%, respectively.