After surging 8.5% in the past 24 hours Cardano is showing decoupling signs
The Cardano (ADA) price remains bullish for the past two sessions. With the recent price action and on-chain data, ADA could be set to stage a bullish decoupling from the rest of the crypto markets according to analytics platform Santiment.
As of press time, ADA is trading at $0.3883 with more than 8% gains in the past two sessions.
Cardano network whales have accumulated the Ethereum-killer altcoin since November 2022, a spike in holdings of addresses that own 10,000 or more ADA.
Analyst at crypto intelligence tracker Santiment noted signs of decoupling in Cardano. As per the tweet, “ Addresses holding 10,000 or more $ADA have collectively accumulated 1.03B(3.3% more coins) in the past 5 months.
These addresses are now over 32 billion towards its all-time high. Whales accumulation led to the bullish outlook for Cardano . The smart contract network development is at a relatively higher point compared to its competitors.
