CandleFocus $25 Billion ADA Traded in Hours, But Price Dips
2024-12-09
Author: Content Editor
Cardano (ADA) has seen a significant increase in large transactions, indicating increased activity from whales and institutional players. However, despite this increase, the price of ADA has fallen by 4.2% to $1.15, as the overall market experiences profit-taking. The recent decline in ADA price may be attributed to traders taking profits after reaching a high of $1.23. In the current trading session, ADA tested support near $1.10, and if bulls gain ground, they may push the price above $1.33 again. On the other hand, if the price falls below $1.09, it may indicate trader sell-off, potentially dropping ADA to $1. Additionally, the Cardano Foundation recently warned the community about a compromised account and urged caution regarding scam links. Last week, Cardano received $5.2 million in fund inflows as digital asset investment products saw the highest weekly inflows on record.
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