Cardano (ADA) may be ranked as the eighth largest digital currency, but it wields enormous power in other areas too, including its on-chain whale transaction. 

Cardano (ADA) and whale’s power play

카르다노(ADA)와 고래의 파워플레이

According to data from crypto analytics platform IntoTheBlock (ITB), Cardano’s aggregated whale volume over the past 24 hours has topped $23.07 billion, after jumping 8.37%. This figure is next only after Bitcoin (BTC), whose large transaction volume was pegged at $33.45 billion within the same period.

카르다노 고래 볼륨. 출처: IntoTheBlock

That market whales are all out for Cardano is no surprise, considering the massive developmental efforts being put into the protocol. Unlike Bitcoin and the other altcoin profiled in the top 10 largest coins by market cap, ADA is the second-cheapest token after Dogecoin (DOGE), underscoring its attractiveness as a viable investment option.

Per the ITB data, Cardano whale transactions have also seen a conservative uptick thus far this week. Large transactions, accounting for those valued at $100,000, were 10,070 as of Dec. 11. This figure rose to 13,140 as of Dec. 14.

It is quite uncommon to have many whales transacting on a network and even harder to maintain consistency over time. As of Nov. 15, the total number of whale transactions recorded on Cardano came in at 4,320, with a peak of 16,160 as of Nov. 9.

네트워크에서 많은 고래가 거래하는 것은 매우 드문 일이며 시간이 지남에 따라 일관성을 유지하는 것은 더욱 어렵습니다. 11월 15일 기준 카르다노에 기록된 전체 고래 거래 건수는 4,320건으로, 11월 9일 기준 16,160건으로 최고치를 기록했다.

The Cardano whale action is well documented, with over $1.5 billion recorded on a single day earlier this week.

Implication for price

가격에 대한 시사점

The Cardano whale action shows how much influence Cardano has in the broader Web3.0 ecosystem. The positive uptick in transaction count comes at a time when the digital currency is on a resurgence, with the price jumping 1.22% in the past 24 hours to $0.6269.

The expectation is that whale transactions can continually enhance sentiment on the market and help ADA on its resilience journey across the board.

고래 거래가 시장에 대한 정서를 지속적으로 향상시키고 ADA의 전반적인 회복력 여정에 도움이 될 것으로 기대됩니다.