Large investors, giant whales in the cryptocurrency ocean, are the wallets that are the source of much of the price volatility. It is claimed that whales in popular altcoins feel this before the price drops by 30%. But could the whales have predicted this decline? Or did they cause the price drop themselves? You have all the details.
Cardano (ADA) and whales
Cardano’s difficult days don’t look like they’re going to end any time soon. Since altcoin rose back in March, it was expected to attract more investors and money when the market enters the second quarter. However, the beginning of the second quarter went in a different direction, as Cardano has fallen by almost 30% since the beginning of April, nullifying more than three quarters of the rally.
But while investors were not ready for this, some whale wallets became the subject of strange coincidences. The activation of whales in February and March can be explained by coincidence. However, this time it was no accident. Even before the consolidation of prices began around March 26, whales began to leave the market. And by the time a real price drop hit Cardano on April 5, whale activity had halved compared to the previous volume. As the ADA continued to fall, the rate of slowing whale growth accelerated, and volume dropped by $29 billion in one day.
Cardano (ADA) Investors
Although they certainly did not provoke a drop in prices, their exit also did not help retail investors, as they could not read the signals, as a result of which more than 1.2 million ADA holders lost money. As a result, they lost trust and completely refused, as a result of which the number of active investors in the network fell by 80% from 101 thousand to 21 thousand.
Fortunately, not a single investor has left the market yet, which means that they are still holding their coins in the hope of a recovery in the coming weeks. Investors are hoping to make more money on ADA by buying a 7.4% drop in the last 24 hours. Purchased 3.77 million ADA worth $3.3 million at current prices.
In addition, the demand for 17.15 million ADA is $ 0.657, and this will not happen in the near future, for this Cardano will have to fall by another 23%. In the worst case, ADA traders know which level to look for.