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Popular On-Chain Data Provider: “Cardano Whales Take Action”

Ranking 8th in terms of market value according to the latest situation, Cardano has increased by 12.92% in the last week. Challenging the broader market correction with this increase, ADA is trading at $0.272 at the time of writing. Other altcoins are providing single-digit returns compared to Cardano, which has double-digit gains on a weekly basis.

Evaluating this performance of ADA, on-chain data provider Santiment said that the whales are back in action. Stating that Cardano whale addresses holding between 1 million and 100 million ADA are once again operational, Santiment said:

“#Cardano is enjoying a mini surge at this hour, and addresses holding between 1M to 100M $ADA may be a main validator to watch for a price breakout. After dumping 568.4M coins the final 2 months of 2022, they have added back 217.2 M$ADA to start 2023.”

Despite the crypto winter of 2022, the Cardano development team is working on several developments for the blockchain network. In this context, experts expect Cardano network and price to be positively affected and ADA to see a surprise rally in 2023. Stating that Cardano will be one of the best altcoins to hold in 2023, Crypto Capital Venture founder Dan Gambardello also thinks ADA will perform very well in 2023.

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