TL;DR

• ADA whales have been on a buying spree lately, signaling potential price surges in the short term.
• Rising network growth and a 7% increase in large transactions support ADA’s rally, with 66% of investors now in profit compared to 87.6% being in the red just months ago.

How High Can ADA Go?

Cardano’s ADA witnessed a whopping 180% price increase in the past month, briefly crossing $1 and currently hovering around it. According to some analysts and developments, the asset might pump much more impressively in the near future.

One factor suggesting such a move upwards is the whale activity. The popular X user Ali Martinez claimed that large investors had purchased over 130 million tokens (worth around $130 million) during the recent price dip.

The effort reduces the number of coins available on the open market, creating scarcity, and could drive the valuation higher (assuming demand stays the same or rises).

In addition, the whales’ actions might be interpreted as a sign of confidence by smaller players, prompting them to join the ecosystem.

X user Sssebi