Cardano [ADA] Rally Ahead? Sharks and Whales Make Move!

• Whale accumulation alongside a spike in on-chain volume tends to suggest that an asset will recover.
• Cardano [ADA] Sharks and whales have been accumulating, reaching the peak registered in September 2022.
• On-chain sentiment has improved in the last 30 days, suggesting a possible ADA rally.

Cardano (ADA) Accumulation Suggests Rally Ahead

Whales & Sharks Begin Accumulating ADA

According to on-chain analytics platform Santiment, whales and sharks who hold between 100,000 – 10 million tokens of Cardano (ADA) have been accumulating. This cohort represents 34.02% of the total ADA supply and has resulted in total accumulation reaching the peak registered in September 2022.

On-Chain Volume Increases

The increased whale and shark accumulation has caused on-chain transaction volume to rise since February. On-chain volume refers to the total amount of assets via a blockchain network and is not necessarily traded. At press time, ADA’s on-chain transaction volume was 49.69 billion— an incredible rise from 16.18 billion on 3 February.

Price Movement & Market Sentiment

Traders were bullish on price action for Cardano (ADA). Despite this positive sentiment being present, the impact of whale & shark actions may not be immediate at first glance as it currently sits just above $0.29 per token at press time – lower than when accumulation began at $0.39 per token due to massive profit taking from traders during its extended uptick period from March to April and June to July .

On Chain Sentiment Improves

While ADA’s weighted sentiment was not as high as it was when the price was $0.39, on-chain data showed that it had improved in the last 30 days which suggests that there is still room for growth with potential for a rally ahead for Cardano (ADA).


The increased whale and shark accumulation coupled with rising on chain volumes suggest that there could be potential for a rally ahead for Cardano (ADA). However, whether this will be seen soon or not is yet to be seen but with sentiment improving over the last 30 days traders should remain positive about what lies ahead for ADA’s future price movement .