😮🚀🚀Cardano (ADA) Price Increased by 18% as Whales Joined the Party
Cardano whale transactions have increased significantly and a decisive break for the ISLAND price shows targets of $ 0.737 and $ 0.87.
Cardano (ADA) proved to be a better performer among the top Decipherment cryptocurrencies with a gain of 18%. At the time of press, the Cardano (ADA) price is trading at $ 0.66 with a market capitalization of $ 23.1 billion.
Cardano (ADA) Price Rally and Whale Event
Unlike other altcoins and their peers, Cardano (ADA) effectively absorbed the selling pressure earlier this week. As a result, Cardano's weekly earnings are at an astonishing 47%. Since the beginning of December this month, Cardano's earnings have increased by over 65%.
Whales are currently very active on the Cardano blockchain network. Cardano's local cryptocurrency ADA has witnessed a remarkable rise in significant transactions exceeding $1.5 billion in the last 24 hours, as reported by the on-chain analytics platform IntoTheBlock.
The significant increase in transactions, which are typically worth at least $100,000 each, brought the total volume from $17.96 billion to an impressive $19.47 billion.
This increase in large transactions, accordingly, increased the volume of Cardano tokens from 32.32 billion ADA to 33.66 billion Ada.
ADA Price Expectations
Cardano quickly absorbed the selling pressure after the ADA price fell to $0.55 earlier this week. Cardano (ADA) recently experienced a decisive break from the resistance trendline and pointed to a potential bullish trajectory. If market conditions are in line with the patterns, the post-breakout rally is expected to target the key levels, in particular $0.737 and $0.87, indicating a potential 35% growth.
