Cardano whales have taken the driving seat following a bullish November. ADA has outpaced the top 10 ranked crypto by market capitalization, taking its price to $0.8. Generally, bulls dominate the wider market, setting upward price ranges.
At the same time, whales have ramped up transactional activity in the ecosystem, clearing the path for retail traders. Cardano coins also experienced a positive swing, ranking ADA among the largest monthly gainers.
Cardano Outpaces The Market
On-chain digital asset analyst Ali Martinez wrote on X (formerly Twitter) that Cardano Whales has increased market activities. Data shows that crypto wallets holding $10 million worth of ADA have increased holdings by 145% in the last 30 days. The platform’s decentralized finance (DeFi) figures follow in a similar direction.
Data from DeFiLlama shows the Total Value Locked (TVL) surpassing $479 million, with applications notching inflows. In the last 24 hours, Cardano has posted more trading volumes than AVAX, TRX, SUI, and TON combined. This surge has taken ADA’s price above top altcoins regarding daily growth. As ADA decouples from crypto assets faced with a slight correction, users continue to anticipate an uphill climb.
Santiment shared a similar view on X with the community. “Cardano is decoupled from the altcoin pack, nearly matching its 8-month high. Its price ratio against Bitcoin is also nearing an 8-month high. The last time we saw this level of ADA transaction and whale volume was in June, just before a +26% burst in the ADA/BTC pairing.”
ADA Price Soars
Cardano has traded above the market in the last 72 hours. The community dubbed ETH killer is up 10% today and 50% in the last seven days. These dominant flows point to sustained upward movements coupled with whales’ doubling activities. The asset’s market cap stands at $28 billion while daily trading volumes rise to $2.5 billion.
On the other hand, Bitcoin saw a mere 3% gain today, reducing weekly inflows to 5%. Altcoin leader Ethereum saw the other side of trades with outflows in the last 24 hours. Ethereum’s weekly losses now stand at 2%.
This month, ETH and other altcoins touched new highs not seen in months as the market became a haven for investors. Donald *****’s win in the US elections was the catalyst for this bullish trajectory.