Cardano (ADA) is one of the tokens currently in the limelight as many projects do well in the ‘Atcoin Season’ as Bitcoin’s dominance cools off. The token has rallied in recent days, and one of the reasons for this resurgence has been revealed.
Cardano Whales Are Accumulating
In a post on their X (formerly Twitter) platform, blockchain analytics platform IntoTheBlock noted that investors’ confidence in the Cardano token grew in October as ADA whales and investors accumulated 1.89 billion ADA during that period. This translates to over $600 million invested in ADA tokens.
Interestingly, the decision by these big holders already seems to be paying off as the majority of this accumulation is said to have taken place between the price range of $0.249 and