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Cardano's 30% Recovery In A Week Has ADA Whales Back In Accumulation Mode

Cardano (ADA), the 8th most valuable cryptocurrency by market capitalization, experienced a colossal price spike in the first week of January 2023. The move is auspicious for ADA, especially as many altcoins are still nursing losses carried over from 2022.

The price upswing is linked to a notable force in the market: ADA whales. Popular cryptocurrency market intelligence platform Santiment reported that barbel backtracks from sellers had been spotted.

It appears that ADA holders had dumped over half a million worth of ADA tokens within November and December of 2022, only to return to holding a notable size of the dumped coins.

Cardano Cardano $0.97
-1.82%
Cardano ADA
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