Last week, Guy Turner, founder and host of the highly popular crypto market commentary show Coin Bureau, explained why he is bullish on Cardano ($ADA).

On 14 February 2023, crypto analytics firm Santiment took a closer look at Cardano ($ADA), currently the 7th most valuable cryptoasset by market cap. According to Santiment’s blog post, there are several positive and negative metrics to consider when assessing the current state of Cardano.

On the positive side, the number of “whale transactions” (valued at $100k or more) has increased dramatically, with an average of 1,700 transactions per day in February compared to 300 in January. Additionally, whale and shark addresses holding 10k to 10m ADA have accumulated 659.53M ADA, worth $235.5M, since the FTX collapse in November 2022. The current average trader returns being in negative territory also suggest a lower risk for buying into Cardano now.