![Is whale interest in Cardano [ADA] enough to sustain its bull rally?](https://i.headtopics.com/images/2023/2/22/cryptoamb/is-whale-interest-in-cardano-ada-enough-to-sustain-is-whale-interest-in-cardano-ada-enough-to-sustain-1628327486957187072.webp)
Whale activity spiked considerably in the last few weeks. A few metrics were bullish, but market indicators suggested a price decline. Santiment’s report on 21 February revealed that Cardano [ADA] was the recipient of increased interest from whales. This was evident from the whale transaction count, which skyrocketed in February 2023. Is your portfolio green? […]
, ADA was up by over 10% in the last seven days, and at the time of writing, it was trading at $0.397 with a market capitalization of over $13.7 billion.’s price registered a decline of over 2% in the last 24 hours.’s price, it somehow remained in demand in the derivatives market, as its Binance funding rate remained high. ADA’s daily active addresses also registered an increase, which suggested more users in the network.
Moreover, ADA’s development activity went down over the last week, which was yet another point of concern.A look at the ADA’s daily chart gave more reasons to worry, as most of the market indicators revealed that the bears had entered the market. For instance, ADA’s Relative Strength Index registered a downtick and was heading towards the neutral mark, which was a development in the sellers’ favor.ADA’s Chaikin Money Flow also followed the same route and went down.
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