Follow us on:

cc_icon

Whales Controlling Cardano ADA Price Action?

Whales Controlling Cardano ADA Price Action?
Whales Controlling Cardano ADA Price Action?

Introduction

In a recent video from Cheeky Crypto, JB discusses Cardano’s ADA and whether whales are controlling the price action. He covers the current market conditions, Cardano’s trading statistics, onchain data, wallet statistics, liquidations, Total Value Locked (TVL), and technical analysis.

Current Market Conditions

JB begins by discussing the current market conditions, noting that the total crypto market cap is at $1.25 trillion and Bitcoin is trading just above $34,000. He also mentions that the market is in a consolidation phase, with most altcoins trading sideways.

Cardano’s ADA

JB then discusses Cardano’s ADA, which he defines as the period since the Vasil hard fork. He notes that Cardano has been trading sideways since the hard fork, with a slight increase in volume in recent weeks.

Onchain Data

JB then explores the onchain data for Cardano’s ADA, noting that the number of active addresses and transactions has increased. He also mentions that there has been some accumulation and profit-taking among holders.

Wallet Statistics

JB then discusses the wallet statistics for Cardano’s ADA noting that the top 10 wallets hold over 50% of the circulating supply. He also mentions that there has been a slight increase in accumulation among whales in recent weeks.

Liquidations

JB then mentions liquidations, noting that there have been no significant anomalies on Cardano in recent weeks.

Total Value Locked (TVL)

JB then discusses the Total Value Locked (TVL) for Cardano’s ADA noting that it has been steadily increasing. He suggests that this is a positive sign for Cardano, as it shows that there is growing interest in the ecosystem.

Technical Analysis

JB then provides a technical analysis of Cardano’s ADA price chart, noting that the price is currently in a consolidation phase. He suggests that there is potential for a downside move in the short term, but that the overall trend is still bullish.

Conclusion

JB concludes the video by advising viewers to trade safely with tight stop-loss orders. He also encourages them to like, subscribe, and engage with the video.

Leave a comment

Your email address will not be published. Required fields are marked *