Just like many other crypto assets, ADA, the native token of the popular smart contract platform, Cardano, has greatly underperformed this year despite the execution of the critical Vasil upgrade. Notably, data show that ADA is down 81.99% in the last 12 months and is currently trading for $0.2524 per coin, at the time of writing.

While the crypto market remains flat with no signs of recovery in the short term, insights from a top Santiment community member SanR, indicate that ADA is preparing for a massive rally as Cardano token whales and sharks addresses continue to accumulate hefty volumes of ADA. For context, Cardano sharks and whales are users holding between 100,000 to 1,000,000 units of ADA and between 1 million and 10 million ADA respectively. 

According to the crypto analyst, the two on-chain metrics that give the bullish sentiment for ADA include the divergence between price and whale activity and the exhaustion of sellers. 

(by Ndianabasi Tom)