Major whales are slowly gravitating towards Cardano, attracting big crypto loaders to take advantage of the recent ADA drop. The cryptocurrency market has experienced severe price declines recently, and coins like ADA are expected to see lower prices at this time. However, ADA whales are already showing renewed interest in the token, and momentum is expected to accelerate soon. What will be the price of Cardano in general? Let’s find out.
ADA whales are active again
The recent price drop forced Cardano whales to act quickly and scoop up large amounts of ADA tokens. According to a recent post on Taptools, the ADA whale has accumulated approximately 140 million tokens in the past three days.
“JUST IN: Cardano whales secretly accumulated more than $140 million in ADA in the past three days. Balances of wallets holding between $10 million and $100 million in ADA grew from $130.6 billion to $132 billion.”
This momentum shows how the ADA whale is positioned for future gains and expresses confidence and support for this asset.
At the same time, Cardano is working to expand its ecosystem and is keen to explore new services such as Leios and Midnight to gain traction in this space.
Moreover, cryptocurrency experts are also starting to make bullish predictions about the bright future of ADA. According to renowned crypto expert Javon Marks, ADA has already achieved multiple price targets and is now looking forward to breaking new price targets once again.
Marks predicted two price thresholds that the token would violate, starting with the $2 price mark. The expert stated how ADA is going to pick up the pace and eventually rise by 800% to reach the $8 price mark.
“After breaking out last cycle, $ADA (Cardano) continues to hit three targets, and the price that recently broke out again seems to be on track to hit the target again. Initially rising over 221% to ~$2.77, we see a similar rise to last cycle, which could lead to ~$7.82, which is over 800% off from the current price…”
Technical aspects of assets
CoinCodex suggests that ADA could gradually approach the $2 price mark, suggesting that the token could reach this level by 2040.
“According to our current Cardano price forecast, Cardano price is predicted to increase by 291.47% and reach $2.74 by December 28, 2040. According to our technical indicators, the current sentiment is Although bearish, the Fear and Greed Index is showing 34 (Fear). Cardano recorded 14/30 (47%) green days with 8.11% price volatility in the past 30 days.Based on Cardano’s forecast, things are bad now. It’s time to buy Cardano. ”