Cardano [ADA]: Why increase in whale transactions should be a cause of concern
According to the on-chain data provider, the daily count of ADA transactions over $100,000 has significantly increased since 3 February.
Based on the recent activity and the current state of ADA, there may be a negative price change in the coming days.revealed. At $200 million at press time, ADA’s Open Interest fell by 7% in the past two days. This could mean that the market participants are unsure of the direction of the price and are waiting for more clarity or a catalyst to drive the price in a particular direction.
At press time, the positive directional indicator of the alt’s Directional Movement Index was in a downtrend at 18.96, ready to intersect with the negative directional index .