{"id":31911,"date":"2023-11-03T21:52:37","date_gmt":"2023-11-04T01:52:37","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=31911"},"modified":"2023-11-03T21:52:37","modified_gmt":"2023-11-04T01:52:37","slug":"cardanos-whale-watch-ada-market-cap-jumps-over-10-amid-on-chain-frenzy","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/11\/03\/cardanos-whale-watch-ada-market-cap-jumps-over-10-amid-on-chain-frenzy\/","title":{"rendered":"Cardano\u2019s Whale Watch: ADA Market Cap Jumps Over 10% Amid On-Chain Frenzy"},"content":{"rendered":"

Cardano (ADA) has recently experienced a notable surge in market capitalization. Blockchain analytics firm Santiment reported<\/a> a 9% increase in ADA\u2019s market cap over the past day, which adds to a more than 20% rise over the last two weeks. <\/p>\n

This growth spurt in valuation aligns with heightened activity<\/a> on the Cardano network, specifically among large-scale holders, commonly referred to as \u2018whales.\u2019<\/p>\n

Cardano On-Chain Data Signals Bullish Behavior For ADA<\/h2>\n

Before this latest rise in value, several on-chain metrics hinted at the potential for a short-term increase in ADA\u2019s price. Santiment\u2019s analysis pointed out that two key indicators\u2014address activity and whale transactions\u2014had spiked to levels not seen in three months. <\/p>\n

This kind of on-chain behavior often precedes market movements<\/a>, drawing the attention of investors and analysts alike.<\/p>\n

Digging deeper into the Cardano blockchain data<\/a>, there\u2019s been a 23% rise in address activity over the past three weeks, according to Santiment, suggesting a growing use case or increased speculation about the altcoin\u2019s future. <\/p>\n

Concurrently, whale transactions, which are large transfers of ADA often indicative of deep-pocketed investors\u2019 movements, have shot up by more than 32%. Such significant transactions can substantially impact market sentiment, potentially leading to price volatility or, in this case, a bullish trend for ADA.<\/p>\n

#Cardano<\/a> has been the big story Thursday, with its market cap growing +9% in the past 24 hours and now +36% over 2 weeks. As usual, #onchain<\/a> activity hinted at this #bullish<\/a> action with $ADA<\/a> address activity & whale transaction at their highest in 3+ months.\u2026 pic.twitter.com\/IYBBk3ssf4<\/a><\/p>\n

\u2014 Santiment (@santimentfeed) November 2, 2023<\/a><\/p>\n

ADA Latest Price Action: Market Surges Over 10%<\/h2>\n

Meanwhile, in a development that aligns with market expectations, ADA\u2019s price has sustained a bullish trend over recent weeks. Correspondingly, the altcoin\u2019s market capitalization has reflected this positive momentum, swelling by approximately 11.4% in the past week and by nearly 30% in the past two weeks.<\/p>\n

Significantly, ADA\u2019s market cap has surpassed the $11 billion mark, climbing from the earlier monthly low<\/a> of around $9 billion. This uptick in market cap value has seen ADA achieve a trading price of $0.32<\/a> at the current time, marking an increase of close to 5% in just the last 24 hours.<\/p>\n

Further bolstering the optimistic market sentiment, ADA\u2019s daily trading volumes have experienced a substantial increase. Where just last Friday, the trading volume hovered around $214 million, there has been a remarkable swell, with the figure soaring to nearly $500 million in the past day.<\/p>\n

This enhanced trading activity, coupled with the market cap growth, signals a robust investor interest in ADA, potentially indicative of broader market confidence in the altcoin\u2019s prospects.\u00a0<\/p>\n

Featured image from Unsplash, Chart from TradingView<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Cardano (ADA) has recently experienced a notable surge in market capitalization. Blockchain analytics firm Santiment reported<\/a> a 9% increase in ADA\u2019s market cap over the past day, which adds to a more than 20% rise over the last two weeks. <\/p>\n

This growth spurt in valuation aligns with heightened activity<\/a> on the Cardano network, specifically among large-scale holders, commonly referred to as \u2018whales.\u2019<\/p>\n

Cardano On-Chain Data Signals Bullish Behavior For ADA<\/h2>\n

Before this latest rise in value, several on-chain metrics hinted at the potential for a short-term increase in ADA\u2019s price. Santiment\u2019s analysis pointed out that two key indicators\u2014address activity and whale transactions\u2014had spiked to levels not seen in three months. <\/p>\n

This kind of on-chain behavior often precedes market movements<\/a>, drawing the attention of investors and analysts alike.<\/p>\n

Digging deeper into the Cardano blockchain data<\/a>, there\u2019s been a 23% rise in address activity over the past three weeks, according to Santiment, suggesting a growing use case or increased speculation about the altcoin\u2019s future. <\/p>\n

Concurrently, whale transactions, which are large transfers of ADA often indicative of deep-pocketed investors\u2019 movements, have shot up by more than 32%. Such significant transactions can substantially impact market sentiment, potentially leading to price volatility or, in this case, a bullish trend for ADA.<\/p>\n

#Cardano<\/a> has been the big story Thursday, with its market cap growing +9% in the past 24 hours and now +36% over 2 weeks. As usual, #onchain<\/a> activity hinted at this #bullish<\/a> action with $ADA<\/a> address activity & whale transaction at their highest in 3+ months.\u2026 pic.twitter.com\/IYBBk3ssf4<\/a><\/p>\n

\u2014 Santiment (@santimentfeed) November 2, 2023<\/a><\/p>\n

ADA Latest Price Action: Market Surges Over 10%<\/h2>\n

Meanwhile, in a development that aligns with market expectations, ADA\u2019s price has sustained a bullish trend over recent weeks. Correspondingly, the altcoin\u2019s market capitalization has reflected this positive momentum, swelling by approximately 11.4% in the past week and by nearly 30% in the past two weeks.<\/p>\n

Significantly, ADA\u2019s market cap has surpassed the $11 billion mark, climbing from the earlier monthly low<\/a> of around $9 billion. This uptick in market cap value has seen ADA achieve a trading price of $0.32<\/a> at the current time, marking an increase of close to 5% in just the last 24 hours.<\/p>\n

Further bolstering the optimistic market sentiment, ADA\u2019s daily trading volumes have experienced a substantial increase. Where just last Friday, the trading volume hovered around $214 million, there has been a remarkable swell, with the figure soaring to nearly $500 million in the past day.<\/p>\n

This enhanced trading activity, coupled with the market cap growth, signals a robust investor interest in ADA, potentially indicative of broader market confidence in the altcoin\u2019s prospects.\u00a0<\/p>\n

Featured image from Unsplash, Chart from TradingView<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-31911","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/31911","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=31911"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/31911\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=31911"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=31911"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=31911"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}