In a significant development, prominent investors in the world of cryptocurrency, known as whales, are showing renewed optimism and confidence in two key tokens, Cardano (ADA) and Shiba Inu (SHIB), hinting at potential future appreciation in their values.
According to a recent survey by the Santiment platform on June 5, whales are displaying increased interest in three specific cryptocurrencies: Cardano (ADA), Shiba Inu (SHIB), and JasmyCoin (JASMY). The data revealed a notable surge in transactions exceeding US$100 for each of these digital assets, indicating a strong trend of whale accumulation.
“Cardano, Shiba Inu, and Jasmy are all on the rise, seemingly spurred by a spike in whale interest. The number of transactions exceeding US$100 on these networks has more than doubled this week compared to the usual 2024 averages, signaling a significant accumulation.”
In the latest weekly updates, both ADA and JASMY experienced substantial growth in their prices. Particularly noteworthy is the remarkable 51.8% increase in JASMY over the past seven days, while Cardano saw a rise of 2.3%. On the other hand, SHIB witnessed a slight decline of 4.1% during the same period.
It is important to note that a report from the market intelligence platform IntoTheBlock in May indicated that investors holding between 100 million and 1 billion ADA had increased their holdings by 11% in the previous 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 current update, the price of Cardano stood at US$0.4611 with a 0.7% increase in the last 24 hours.
Disclaimer: The opinions expressed in this article, whether by the author or any individuals mentioned, are for informational purposes only and should not be considered as financial or investment advice. Trading or investing in cryptocurrencies carries a risk of financial loss.
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