CandleFocus Over 29,900 Wallets Exit Cardano After 108% Price Surge: What History Suggests for ADA Price
2024-11-19
Author: Content Editor
The number of active wallets on the Cardano network has decreased by almost 30,000 in the past 13 days, likely due to retail investors taking profits as larger holders accumulate assets. This decline in wallet activity is seen as a positive sign for Cardano's long-term price prospects, as it suggests that retail investors are selling their holdings while whales are buying. Similar patterns of reduced wallet activity have been observed for Bitcoin and Dogecoin, which could indicate long-term price stability for these assets as well. Analysts are optimistic about Cardano's future, with predictions of a surge in price by over 700% by 2025 and a potential peak of $5 if market conditions remain favorable.
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