Cardano Whales & Sharks Ramp Up ADA Holdings as Midnight Sees Strong Institutional Backing

TL;DR:

Recent on-chain data from Santiment highlights a significant shift in Cardano investor behavior despite continued price weakness.

Key Points:

Background:

Crypto whales are individuals or entities that hold large amounts of cryptocurrency. Their trading activities and wallet movements are closely monitored by the community because they can significantly influence market prices and trading patterns.

Why It Matters:

Whale movements often precede major market moves and can indicate institutional positioning or upcoming developments. Tracking whale activity helps traders and analysts understand market sentiment and potential price action, making it a crucial aspect of on-chain analysis.