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