In an important development, major investors in the world of cryptocurrency, known as whales, are expressing renewed optimism and confidence in the tokens Cardano (ADA) and Shiba Inu (SHIB), signaling a positive outlook for potential price increases in the future.
A survey released by the Santiment platform on June 5th revealed that whales are currently showing increased interest in three specific cryptocurrencies: Cardano (ADA), Shiba Inu (SHIB), and JasmyCoin (JASMY). The data indicated that the number of transactions exceeding US$100 for each of these cryptocurrencies more than doubled this week, indicating significant accumulation by whales.
“Cardano, Shiba Inu, and Jasmy are all experiencing surges, with each one showing increased activity following a rise in whale interest. The number of transactions exceeding US$100 on each of these networks has more than doubled this week compared to the normal averages of 2024, suggesting a trend towards accumulation.”
In their weekly updates, ADA and JASMY saw notable increases in their prices. The most remarkable rise was seen in JASMY, which surged by an impressive 51.8% in the past seven days, while Cardano saw a 2.3% increase. On the other hand, SHIB experienced a slight decrease of 4.1% during the same period.
It is important to note that a report from the market intelligence platform IntoTheBlock, released in May, indicated that investors holding between 100 million and 1 billion ADA had increased their holdings by 11% in the last month. This group now controlled approximately 6.71% of the total ADA circulation, demonstrating a positive outlook for the cryptocurrency’s future.
As of the time of writing, the price of Cardano was quoted at US$0.4611, showing a 0.7% increase in the last 24 hours.
Disclaimer: The opinions expressed in this article are for informational purposes only and do not constitute financial advice. Investing in cryptocurrencies carries a risk of financial loss.
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