Why Cardano Is Rising Today
Over the last 24 hours, the price of the Cardano (CRYPTO: ADA) cryptocurrency has traded nearly 8% higher as of 2:23 p.m. ET today for no obvious reason, although there looks to be some technical support occurring. Ada traded higher than most cryptocurrencies.
With Ada trading near 15-month lows, it appears that Cardano whales, those who hold large amounts of the token, are accumulating. Data from the business intelligence firm Santiment shows the number of crypto wallets with more than 10 million Ada has increased by nearly 2.15% since mid-April, hinting that whales are eying a recovery.
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Source Fool.com
