Cardano [ADA] Whales on the Rise: Is Your Portfolio Green?

• Whale activity has spiked in the last few weeks and Cardano (ADA) was the recipient of increased interest from whales.
• Updates to the Cardano network, such as the Valentine upgrade, have helped push its price up 10% over the last seven days.
• Despite this price increase, several market indicators suggest a potential price decline.

Whale Activity Spikes

Whale activity spiked considerably in the last few weeks, with Santiment’s report on 21 February revealing that Cardano [ADA] was the recipient of increased interest from whales. This was evident from the whale transaction count, which skyrocketed in February 2023.

Cardano Network Upgrades

Cardano’s developers pushed quite a few upgrades for the network, the latest and most notable one being the Valentine upgrade, which was released on 14 February. Input Output Global (IOG) also posted a thread on Twitter aimed at helping newcomers understand better by simplifying several jargons and technical terms related to blockchain technology.

Price Increase

As per CoinMarketCap data, ADA was up by over 10% in