- ADA saw strong demand from whales, which underpinned its Q1 rally.
- The largest whales have been taking profits but other whale categories are picking up the slack.
Not so long ago, crypto bears had high favor for Cardano [ADA]. This situation led to heavy losses for hodlers hoping to secure the cryptocurrency at a discount. Now that Q1 is done and dusted, it is important to look back at the changes that have taken place since then.
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One of the most notable changes is a dynamic shift, where whales have been scooping up ADA. It would eventually become discounted enough for whales to pass up, and that may just be what happened at the start of Q1. ADA could have bounced back strongly on the backs of whales accumulating at discounted prices.
But new reports suggest that ADA maintained the strong whale demand in Q1.
#Cardano whales holding 1 million to 10 million $ADA have bought roughly 150 million #ADA over the past month, worth $57 million, shows on-chain data from @intotheblock. pic.twitter.com/2ot5U7pUzY
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Author: Michael NderituDid you like this?
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