Despite rising whale activity, Cardano’s (ADA) price action has remained neutral amid recent regulatory squabbles with the SEC. Are the retail network participants losing interest in the Cardano ecosystem? 

The Cardano team has made several attempts to address centralization concerns highlighted by the SEC lawsuit. However, this has not fully resonated with the retail network participants. 

Cardano Has Maintained a Healthy Whale Activity 

Amid ongoing regulatory squabbles, on-chain data shows that Cardano has maintained a healthy level of whale activity. 

As seen below, even while ADA price dropped to a 2-year low of $0.23, millionaire whales on the Cardano network have maintained a steady level of transactional activity. 

The chart below shows that since June 2023, Cardano has maintained an average of 100 daily transactions exceeding $1 million daily. 

The Whale Transaction Count metric shows the daily number of transactions that exceed $1 million. As shown below, Cardano whales have generally maintained a neutral disposition over the past month. 

If ADA price is to break above the $0.30 resistance, increased traction among the whales will be pivot

Go to Source to See Full Article
Author: Ibrahim Ajibade

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details