In a bold move, prominent investors in the realm of cryptocurrency, known as whales, have shown renewed optimism and confidence in Cardano (ADA) and Shiba Inu (SHIB), hinting at a promising future for the value of these tokens.
A survey released 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 that the volume of transactions exceeding US$100 for each of these digital assets has more than doubled this week, signaling a significant increase in whale accumulation.
“Cardano, Shiba Inu, and Jasmy are all experiencing a surge, seemingly sparked by a spike 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, indicating a rise in accumulation.”
In the latest weekly updates, the ADA and JASMY cryptocurrencies have seen notable price appreciation. Particularly, JASMY has surged by an impressive 51.8% over 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 is 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 increased their holdings by 11% in the last month. This group now controls approximately 6.71% of the total ADA circulation, displaying a clear optimistic outlook on the cryptocurrency’s future.
As of the time of this publication, the price of Cardano stood at US$0.4611, reflecting a 0.7% increase in the last 24 hours.
Disclaimer: The opinions expressed by the author and individuals mentioned in this article are for informational purposes only and should not be considered as financial or investment advice. Investing or trading in cryptocurrencies carries inherent risks of financial loss.
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