NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Cardano Whales Devour Dip, Why They Don’t Care About Price Action

Julia Arvelaiz
Julia Arvelaiz
3 years ago
3 mins read
Cardano

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Despite the crypto market’s bloodshed, in the past few days, the Cardano (ADA) trading activity has been relentless, and its holders’ balance remains strong with a multi-year high.

Into The Block data indicates that the wallet balance held by long-term Cardano holders hit a multi-year high on February 23.

“Regardless of the price action, Cardano‘s holders remain strong. The balance held by HODLERS- addresses holding >1 year, is at a multi-year high. These HOLDERS increased their positions to 10.12b $ADA, the largest balance since December 11, 2019.”

Image
Source: Into The Block

Despite the geopolitical tension causing the altcoin’s price to drop dramatically, traders have increased their position of Cardano.

Holders have accumulated the highest balance of ADA since December 2019. Cardano’s network recent developments might be serving as fuel to its supporters, and as a consequence, many believe its price will climb.

“Every bounce is still getting sold off, waiting for a final leg down before a reversal. Would consider buying this at 0.50,” an analyst noted.

A Finder’s poll indicated several analysts believe the price of ADA will reach $58 by 2030, and a few thought it might close this year at $2.72, a 160% increase. Many traders received the $58 prediction as an exaggeration unless the Cardano ecosystem truly manages to explode during the following years.

Expert Vanessa Harris was also bullish on the altcoin. She expects it to close 2022 around the $3 mark, adding that its criticized slow-paced growth could pay off as nations turn their eyes towards it:

“It is one of the few smart contract platforms that have placed security, correctness [and] decentralization at their core, backed by formal methods and peer-reviewed research… While this means Cardano moves more deliberately in the short term, long term this resilience should support adoption by nation-states and non-governmental organizations. We are already seeing this adoption happen in Ethiopia and Tanzania.”

However, other experts remained bearish and cited “lack of execution and poor technology” and alleged that “They have failed on their promise of delivery for the last several years.” But however slow, the expansion of its DeFi ecosystem is starting to happen and might support the loyal holders’ sentiment.

Related Reading | Cardano Daily Transaction Volume Up, But ADA Prices Remain Sluggish

Cardano DeFi Expansion

Cardano volumes and transactions are growing as developers focus on building the first dApps solutions and its DeFi space is set to grow. It has even surpassed the on-chain activity of Ethereum ranking 2nd in 24h transaction volume after registering $17.04 billion on February 22.

In terms of gaining traction, the decentralized exchange SundaeSwap, an Automated Market Maker DEX, was anticipated by many users and launched at the beginning of the year. It tumbled at the beginning due to congestion. But after some adjustments of the block size done by IOHK, the transactions run smoothly now and SundaeSwap reports a Total Value Locked of $21 million.

The boom of NFTs is also contributing to the Cardano blockchain attraction. The non-custodial decentralized exchange ecosystem Arcadex will soon be launched on the network. It has generated enthusiasm for providing a wide variety of DeFi services through both DEX and NFT marketplaces.

Despite the slow-paced growth and 6-month downtrend, Cardano is still gaining traction and holders are not letting go. More growth is expected as the Cardano roadmap aims to increase scalability.

Related Reading | Bitrue Announces Support For Cardano (ADA) As Base Pair On Exchange

Price Of ADA

At the time of writing, Ada is down to $0.83, shedding around 0.72% over the past 24 hours.

Cardano
Cardano price down to $0.83 in the daily chart | Source: ADAUSD on TradingView.com

 

Tweet123Share196ShareSend
Julia Arvelaiz
Julia Arvelaiz

Julia Arvelaiz

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin

Long-Term Bitcoin Holders Near Pain Point Last Seen In October 2024

According to CryptoQuant analyst Darkfost, long‑term Bitcoin holders are sitting on unrealized gains last seen during the October 2024 market...

Christian Encila 20 hours ago
Bitcoin

Expert Explains Why Bitcoin Remains Stuck Below $120,000 Despite Wall Street’s Billions

As Bitcoin (BTC) experiences another dip, falling 5% below its record high of $111,800 reached during May’s crypto rally, analysts...

Ronaldo Marquez 23 hours ago
TRON Defies Market Dip as USDT Activity and Drawdown Metric Signal Growth

TRON Defies Market Dip as USDT Activity and Drawdown Metric Signal Growth

While the broader crypto market experienced a downturn with a 2.7% decline in total market cap over the past 24...

Samuel Edyme 1 day ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Whales Are Quietly Repositioning, Here’s What Bitcoin’s $107K Price Isn’t Telling You

Whales Are Quietly Repositioning, Here’s What Bitcoin’s $107K Price Isn’t Telling You

Samuel Edyme 3 hours ago
Ethereum Price Stagnates as On-Chain Data Shows Whale Accumulation

Ethereum Price Stagnates as On-Chain Data Shows Whale Accumulation

Samuel Edyme 5 hours ago
Bitcoin

Public Firms Snag 131,000 BTC, Surpassing ETFs In Bitcoin Purchases

Ronaldo Marquez 19 hours ago

Premium Sponsors

Press Releases

  • 1 Legjobb kriptovaluta, amit érdemes megvenni, mielőtt...

    10 minutes ago
  • 1 най-добра криптовалута за купуване преди да поскъпне с 2200%, според Кати Ууд

    1 най-добра криптовалута за...

    2 hours ago
  • 1 Najlepšia kryptomena na kúpu predtým

    1 Najlepšia kryptomena na kúpu predtým, než vzrastie o...

    10 hours ago
  • O criptomonedă de top de cumpărat înainte să crească...

    10 hours ago
  • Szukasz najlepszych kryptowalut do zakupu w 2025 roku

    Szukasz najlepszych kryptowalut do zakupu w 2025 roku? Oto...

    12 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.