Cardano’s ADA token is on an impressive run, recently surging to over $0.81, marking an eight-month high. The cryptocurrency has jumped more than 115% in just two weeks, reflecting a powerful bullish movement. Retail investors, who briefly pushed the price below $0.80 due to profit-taking, seem to be overshadowed by the growing activity of large investors, or “whales.” These whales have been aggressively accumulating ADA, pushing the price higher and signaling further upside potential.

Surge in Whale Transactions

Recent data from IntoTheBlock shows that large ADA transactions have increased by a remarkable 297% over the past two weeks. The total volume of these transactions reached a massive $22.56 billion as of yesterday, a significant jump from the $12.25 billion recorded on November 13. In fact, just days earlier, on November 16, the value of these large transactions peaked at $28.43 billion before stabilizing at the current level. This consistent increase in whale activity demonstrates strong momentum and suggests that large investors are increasingly confident in the asset’s growth.

Whale Holdings Increase by 145%

The behavior of Cardano’s whales is playing a significant role in driving the price upwards. Investors holding over $10 million in ADA have boosted their holdings by an astonishing 145% over the past month, now collectively holding more than $12.1 billion worth of ADA tokens. These large holders have experienced the biggest growth in their portfolios, signaling a strong belief in Cardano’s future potential.

Other investor groups are also seeing increased activity. Wallets containing between $100K and $1 million worth of ADA have increased by more than 105%, bringing their total holdings to $4.36 billion. Similarly, those holding between $1 million and $10 million in ADA have experienced an 82.97% increase in their positions, now totaling $3.9 billion.

Interestingly, smaller retail investors appear to be scaling back. Wallets holding less than $1 million in ADA have seen a decrease in their holdings, with the total falling by 39.46%, now just under $300,000. Even smaller wallets, with ADA holdings between $10 and $100, have reduced their positions by about 7.65%.

Massive $52B in Transactions

In addition to the increase in large transactions, Cardano’s overall trading volume has soared. According to intelligence platform Santiment, Cardano has seen $52.26 billion in total transaction volume over the past week, marking its highest level in seven months. This surge in activity is fueled by both retail investors and whales, as evidenced by more than 8,900 whale transactions occurring for the second consecutive week. The total volume of whale transactions underscores the growing interest in Cardano, which is showing a stronger market presence compared to many other altcoins.

Cardano’s Price Momentum and Market Strength

The increase in whale transactions and ADA holdings has had a direct impact on Cardano’s price. With continued buying pressure from large investors, ADA’s price is climbing, and its market performance is starting to decouple from the broader altcoin market. ADA’s price ratio against Bitcoin has also reached an eight-month high, a promising sign that it could outperform other cryptocurrencies in the near future.

Santiment’s report indicates that this is not the first time ADA has experienced a similar spike in whale activity. The last time such a surge occurred was in June, when Cardano saw a 26% increase against Bitcoin. The historical pattern suggests that ADA could be on the verge of another major rally, possibly leading to new highs.

As whale activity continues to push the price higher and transaction volumes remain elevated, ADA’s market position is becoming increasingly strong. With more institutional and high-net-worth investors betting on the future of Cardano, ADA could experience further bullish momentum in the weeks and months ahead.

What’s Next for ADA?

The growing interest from whales and the increase in large transactions indicate that Cardano could be entering a new phase of price growth. As of now, ADA is seeing consistent price action above $0.80, and if the current trends continue, it may soon challenge new resistance levels. Investors are closely watching for any signals of a breakout that could lead ADA to new highs.

The price rally has already proven that large investors are placing their bets on ADA’s future potential. With the ongoing accumulation of tokens and high transaction volumes, Cardano’s ADA is set to continue making waves in the cryptocurrency market.