Crypto Whales
Fall Short of 20
Billion Cardano• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Cardano Transactions, Putting
ADA Price atRisk
Two days ago, Cardano• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Cardano (ADA) was set for a rally toward $0.40, but that
potential has diminished as crypto whales have stepped back.
While ADA’s long-term prospects remain interesting, recent on-chain data
suggests the short-term outlook might be bleak.
Cardano• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Cardano Whales Surrender
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On September 14, Cardano• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Cardano’s large transaction volume was 16.25 billion ADA. By
September 16, the volume had increased to 19.50 billion, with speculation
suggesting that it could hit the 20 billion milestone for the first time this
month.
For context, large transaction volume provides an idea of the amount of
cryptocurrencies• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта transacted by institutional players or crypto whales.
Furthermore, this metric measures transactions worth $100,000 and above.
When it spikes, it indicates that large players have likely bought a
significant amount of the cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта. Conversely, a decrease suggests
declining whale interest in the token. In Cardano• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Cardano s case, the large
transaction volume dropped from 19.50 billion to 18.44 billion at press time,
signaling reduced activity from major holders.
Read more: How to Stake Cardano• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Cardano (ADA)
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Cardano• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Cardano Large Transaction Volume. Source: IntoTheBlock
This decline, if sustained, suggests that Cardano• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Cardano’s price might not get the
necessary push it needs to erase some of the recent losses.
Following the development, ADA’s price, which was around $0.36 over the
weekend, has now fallen to $0.33. This price decrease affected the Market
Value to Realized Value (MVRV) ratio — a metric used to measure the level of
unrealized losses or profits.
Put simply, the higher the MVRV ratio, the higher the level of unrealized
profits. However, a drop in the ratio indicates otherwise. According to
Santiment Cardano• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Cardano’s one-day MVRV ratio was -39% on Monday. Cardano• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Cardano MVRV Ratio.
Source: Santiment
Today, the ratio has decreased to -61.25%, indicating that ADA’s price action
has put more holders in a more difficult position to register gains.
ADA Price Prediction: Bearish Pressure Mounts
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A look at Cardano• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Cardano’s price analysis shows that the token remains vulnerable to
bearish cues. For instance, the Awesome Oscillator (AO), which was positive on
September 15, has dropped to the negative region.
The AO is a technical indicator that measures momentum by comparing recent
price movements to historical ones. A positive reading indicates bullish
momentum, while a negative one suggests otherwise.
In addition, the fact that ADA failed to break above the major point of
interest around $0.34 reinforces the bearish bias. Considering the current
positions, it is unlikely for the cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта to experience a notable
upswing.
Read more: 6 Best Cardano• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Cardano (ADA) Wallets You Should Consider in September 2024
Cardano• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Cardano Daily Analysis. Source: TradingView
Instead, a price decrease toward $0.30 could be next. However, if ADA’s daily
candlestick closes above $0.35 amid a surge in crypto whales’ purchases , this
prediction might be invalidated. In that case, the price could climb by 15%
and hit $0.40.
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