What Do Whales Know? 200 Million ADA Bought in 48 Hours, On the Dip
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- Cardano whales have accumulated over 200 million ADA tokens in the last 48 hours.
- The on-chain data shows these large holders were actively buying during the recent price dip.
- A long-term trend of ADA leaving exchanges for private wallets also continues.
Cardano (ADA) whales are on a buying spree, scooping up over 200 million tokens in just the last 48 hours. On-chain data shows this accumulation comes from addresses holding between 100 million and 1 billion ADA, and they’ve been adding to their bags since late July, notably buying into the recent price pullback.
In the final week of July, these addresses ramped up their buying even as ADA’s price dropped from its mid-month highs toward a low of $0.72. This trend of buying the dip continued into the first week of August, pushing large-holder balances to their highest point and helping to fuel the subsequent price rebound toward the $0.80 range.
Not the first time. This whale buying has been going on for a while. Here’s our previous report on a massive 180 Million ADA acc…
The post What Do Whales Know? 200 Million ADA Bought in 48 Hours, On the Dip appeared first on Coin Edition.
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