So, Cardano (ADA) has just received a rather nice 6% boost. That’s not too bad in a market that has been rather volatile, hasn’t it? Nevertheless, there is a catch: while the price is gradually rising, the so-called ‘whales’ are apparently reluctant to increase their holdings.
The Scoop
Some of the previous whales that were accumulating ADA have now slowed down. There are no huge bearish flows – they are simply not buying and adding to their positions. It may not sound like the end of the world, but it does raise the question: Do they know something that we don’t?
Why It Matters to 100x
At 100x, we are always watching the whales’ activities since one of them can move the market. If the whales are not buying then they may be waiting for a price drop or they may be conservative in their investing. In the meantime, the retail traders may continue to buy into the 6% price increase believing that it is the beginning of a new uptrend.
Bottom Line
- Short-Term Love: The price has increased and the mood has improved.
- Whale Hesitation: Large wallets have paused from accumulating – this could be a sign to watch out for.
- Your Move: Riding on the hype train might be a good investment if the momentum remains high, or it may turn out to be a disastrous decision in case the whales decide to panic sell.
It should be noted that this is the wild west. ADA has a very large ecosystem, and every piece of news concerning upgrades or partnerships can become the reason for pumps or corrections. Stay alert, trade wisely, and do not let fear or greed dictate your actions.
