In a noteworthy development, prominent investors in the world of cryptocurrency, known as whales, have shown renewed optimism and confidence in two tokens, Cardano (ADA) and Shiba Inu (SHIB), signaling a positive outlook for potential price increases in the future.
A recent survey shared by the Santiment platform on June 5th revealed that whales are displaying 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 tokens more than doubled during the week, indicating a significant accumulation by whales.
“Cardano, ShibaInu, and Jasmy are experiencing upward trends, likely influenced by heightened whale interest. The volume of transactions exceeding US$100 on each of these platforms has more than doubled this week compared to the usual averages in 2024, suggesting accumulation.”
In the latest weekly updates, the ADA and JASMY cryptocurrencies demonstrated notable price increases. Particularly impressive was the 51.8% surge in JASMY’s price over the past seven days, while Cardano saw a 2.3% rise. 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 in May highlighted that investors holding between 100 million and 1 billion ADA had increased their holdings by 11% in the previous month. This group now controlled approximately 6.71% of the total ADA circulation, indicating a positive outlook for the cryptocurrency’s future.
As of the time of publication, the price of Cardano was quoted at US$0.4611, reflecting a 0.7% increase in the past 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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