In a noteworthy development, prominent investors in the world of cryptocurrency, known as whales, are showing renewed enthusiasm and confidence in two key tokens, Cardano (ADA) and Shiba Inu (SHIB), hinting at a positive outlook for potential price appreciation in the near future.
A recent survey shared by the Santiment platform on June 5th unveiled that whales are currently displaying heightened interest in three specific cryptocurrencies: Cardano (ADA), Shiba Inu (SHIB), and JasmyCoin (JASMY). The data indicated a substantial increase in the number of transactions exceeding US$100 for each of these digital assets, signaling a significant accumulation by whales.
“Cardano, Shiba Inu, and Jasmy are all experiencing significant growth, seemingly driven by a surge in whale interest. The volume of transactions exceeding $100 on each of these platforms has more than doubled this week compared to the usual averages from 2024, pointing towards a trend of accumulation.”
#Cardano, #ShibaInu, and #Jasmy are all witnessing spikes, with each surge believed to be influenced by a rise in whale interest. The volume of transactions above $100 on each of these networks has more than doubled this week compared to the typical 2024 averages, indicating an increase in accumulation.
In their respective weekly progress, the ADA and JASMY tokens have seen notable increases in their values. Particularly, JASMY has soared by an impressive 51.8% in the past seven days, while Cardano has seen a rise of 2.3%. On the other hand, SHIB experienced a slight decline of 4.1% during the same period.
It’s important to note that a report from the market intelligence platform IntoTheBlock released in May revealed that investors holding between 100 million and 1 billion ADA had expanded their holdings by 11% in the last month. This group now controls approximately 6.71% of the total ADA circulation, reflecting a positive outlook on the cryptocurrency’s future.
As of the time of this publication, the price of Cardano was quoted at US$0.4611, showing a 0.7% increase in the past 24 hours.
Disclaimer: The opinions expressed in this article, whether by the author or any individuals mentioned, are solely for informational purposes and do not constitute financial advice. Investing in or trading cryptocurrencies carries a risk of financial loss.
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