Cardano on-chain activity signals bullish ADA price action
Although the majority of assets in the cryptocurrency market have started to consolidate their gains, Cardano (ADA) has continued to trade in the green, and its on-chain activity suggests that more increases could await the eighth-largest cryptocurrency by market capitalization. Specifically, Cardano has witnessed strong ADA address activity that has risen by 23% in the last three weeks, while whale transactions increased 32% during the same period, according to the data shared by the crypto and blockchain analytics platform Santiment on November 2. Cardano active addresses and whale transactions. Source: Santiment At the same time, the Santiment team noted that this strong uptick in the on -chain activity of Cardano had hinted at the bullish action seen on November 2, when ADA’s market cap soared 9% in the previous 24 hours, and as much as 36% in the two weeks leading up to Thursday. Cardano price analysis Meanwhile, this crypto asset was at press time changing hands at the...