U.Today - Cardano's native blockchain token, ADA, has experienced a remarkable surge in large transactions, exceeding $1.5 billion in the past 24 hours, according to on-chain analytics platform .
The substantial increase in these transactions, typically valued at least $100,000 each, has driven the aggregate volume from $17.96 billion to an impressive $19.47 billion.
In terms of Cardano tokens, this surge reflects a surge in large transactions from $32.32 billion ADA to $33.66 billion ADA.
Source:
Cardano's Christmas story
This surge in transaction whales, a term often used for major players on financial markets, is closely tied to the outstanding performance of . Notably, Cardano's sentiment resembles euphoria, and the token is basking in its best December stretch in the last seven years.Since the start of the month, ADA has exhibited remarkable growth, exceeding 63%. Remarkably, while the broader market is grappling with losses ahead of the U.S. Federal Reserve rate decision, remains exceptionally bullish, trading at a notable 6% above its opening price of $0.61 per token.
ADA to USD by The surge in whale transactions and ADA's robust price performance underline growing confidence and interest among large-scale investors in Cardano. This influx of high-value transactions indicates a strong belief in the token's potential and the blockchain's capabilities.
As continues to stand out on the volatile cryptocurrency market, the $1.5 billion whale transactions surge serves as a testament to the growing prominence of ADA. Investors and enthusiasts are closely watching as Cardano's momentum shows no signs of waning, making it a focal point in the crypto space amid market uncertainties.