Cardano

2024

when

<p><strong>TL:DR;</strong></p>
<ul>
 <li>Cardano’s native token continues to see a lot of demand from whales, with another massive accumulation over the past day or so.</li>
 <li>These big purchases could lead to price increases for the underlying asset, which is predicted to continue its run and hit $1.5 next.</li>
</ul>
<p><a href="https://cryptopotato.com/wp-content/uploads/2024/11/ADA_CB-15.jpg" data-wpel-link="internal" rel="noopener noreferrer nofollow"></a></p>
<h2 id="ada-s-current-run">ADA’s Current Run</h2>
<p>The so-called ‘Trump Pump’ initially missed ADA. While the rest of the market, led by BTC and DOGE, was charting massive gains, Cardano’s token remained relatively still at around $0.3. That all changed during the first weekend after the elections when IOG Founder Charles Hoskinson said he would <a href="https://cryptopotato.com/cardano-ada-soars-30-daily-as-founder-charles-hoskinson-makes-big-announcement/" data-wpel-link="internal" rel="noopener noreferrer nofollow">work</a> alongside the Trump administration to establish crypto regulations in the States.</p>
<p>ADA skyrocketed immediately by double-digits and kept climbing in the following weeks amid the overall resurgance in the market, as well as other <a href="https://cryptopotato.com/big-cardano-price-predictions-as-ada-shoots-up-17-to-3-year-high/" data-wpel-link="internal" rel="noopener noreferrer nofollow">big hints</a> by Hoskinson.</p>
<p>The cryptocurrency’s ascent culminated on December 3, when it jumped to just over $1.3 for the first time in almost three years. Since then, though, ADA has retraced slightly to $1.2 after an 8% correction. The question now arises of what would push the asset further north and whether it can reach some of the&nbsp;<a href="https://cryptopotato.com/big-cardano-price-predictions-as-ada-shoots-up-17-to-3-year-high/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">big predictions</a> made by analysts, including a price tag of up to $6.</p>
<h2 id="whales-on-the-move">Whales on the Move</h2>
<p>Crypto whales tend to impact the market due to their ability to purchase or offload large portions of a certain asset. Consequently, their behavior could determine the upcoming price movements of a token. Recall that Cardano whales <a href="https://cryptopotato.com/cardano-whales-on-the-move-is-the-ada-price-gearing-up-for-a-further-rally/" data-wpel-link="internal" rel="noopener noreferrer nofollow">accumulated</a> 130 million coins during the retracement at the end of November and the asset’s price jumped in the following days from $0.9 to the aforementioned peak of $1.3.</p>
<p>The popular analyst Ali outlined another massive purchase by these large investors for more than 100 million ADA within the span of 24 hours.</p>
<blockquote class="twitter-tweet">
 <p dir="ltr" lang="en"><a href="https://twitter.com/hashtag/Cardano?src=hash&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">#Cardano</a> whales bought over 100 million <a href="https://twitter.com/search?q=%24ADA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">$ADA</a> in the last 24 hours! <a href="https://t.co/IrZjA54tGy" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/IrZjA54tGy</a></p>
 <p>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1864681287526527339?ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">December 5, 2024</a></p>
</blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>This could lead to even further gains for ADA, as many experts have predicted that its next target is precisely $1.5, which means another 25% surge from its current levels. Ali, for instance, <a href="https://x.com/ali_charts/status/1864609056083570751" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">believes</a> the asset has formed an “ascending triangle like it was extracted from a textbook” that could drive ti to that target.</p>
<p>The post <a href="https://cryptopotato.com/cardano-whales-keep-buying-is-ada-poised-to-hit-1-5-next/" rel="noopener noreferrer nofollow">Cardano Whales Keep Buying, Is ADA Poised to Hit $1.5 Next?</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.</p>

Cardano Whales Keep Buying, Is ADA Poised to Hit $1.5 Next?

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