In a significant development, prominent investors in the cryptocurrency industry, known as whales, have shown renewed faith and confidence in the tokens of Cardano (ADA) and Shiba Inu (SHIB), indicating a positive outlook for potential price appreciation in the future.
A survey released by the Santiment platform on June 5th revealed that whales are increasingly interested in three specific cryptocurrencies: Cardano (ADA), Shiba Inu (SHIB), and JasmyCoin (JASMY). The data pointed out that the number of transactions exceeding US$100 for each of these cryptocurrencies has more than doubled this week, indicating substantial whale accumulation.
“Cardano, Shiba Inu, and Jasmy are all making waves, with each showing signs of increased interest from whales. The number of transactions over US$100 on these networks has more than doubled this week compared to the usual averages in 2024, suggesting accumulation.”
#Cardano, #ShibaInu, and #Jasmy are experiencing surges, each seemingly spurred by heightened whale interest. The volume of transactions over $100k on these networks has all more than doubled this week compared to the usual 2024 averages, signaling accumulation.
In the weekly updates for ADA and JASMY cryptocurrencies, there has been a significant price appreciation. Particularly noteworthy is the impressive 51.8% increase in JASMY over the last seven days, while Cardano has seen a rise of 2.3%. SHIB, on the other hand, experienced a slight retraction 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 last month. This group now controls approximately 6.71% of the total ADA circulation, reflecting a positive outlook on the cryptocurrency’s future.
At the time of this publication, the price of Cardano was quoted at US$0.4611, with a 0.7% increase in the last 24 hours.
Disclaimer: The opinions expressed by the author or individuals mentioned in this article are for informational purposes only and do not constitute financial or investment advice. Investing or trading cryptocurrencies carries a risk of financial loss.
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