Cardano (ADA) has experienced a remarkable rally this month, mirroring and even surpassing the broader crypto market\u2019s momentum.<\/p>\n
Following months of subdued performance, ADA\u2019s on-chain activity has surged as well, as it decoupled from the altcoin pack.<\/p>\n
According to data<\/a> from popular on-chain analytic platform Santiment, the ADA transaction volume reached $52.26 billion this week, marking a 7-month high. Whale transactions, on the other hand, exceeded 8,900 for the second consecutive week and formed a 6-month peak.<\/p>\n Cardano is decoupled from the altcoin pack, nearly matching its 8-month high. Its price ratio against Bitcoin is also nearing an 8-month high. The last time we saw this level of ADA transaction and whale volume was in June, just prior to a +26% burst in the ADA\/BTC pairing. pic.twitter.com\/8EmEAySWaq<\/a><\/p>\n \u2014 Santiment (@santimentfeed) November 20, 2024<\/a><\/p>\n\n This momentum coincides with ADA\u2019s price ratio against Bitcoin nearing an 8-month high. Historical trends show that similar spikes in transaction and whale activity last occurred in June, preceding an over 26% rise in the ADA\/BTC pair. This decoupling from the altcoin market suggests a strong resurgence, further indicating bullish opportunities for ADA holders.<\/p>\n This surge in on-chain metrics is mirrored by a sharp rise in large ADA transactions. There\u2019s been a sharp surge in large ADA transaction volume, which has risen by 297% over the past two weeks. Data revealed<\/a> that the total volume reached $22.56 billion on November 18, as ADA\u2019s price climbed above $0.742. The 7-day high of $28.43 billion signaled heightened interest from institutional players or large holders.<\/p>\n Currently, ADA is trading near $0.83 after surging by almost 153% since November 5th \u2013 a pivotal moment in US politics \u2013 when Donald Trump was elected as president, a development widely regarded as a turning point for the crypto market.<\/p>\n The ongoing bull run has sparked bold predictions for ADA. As recently reported<\/a> by CryptoPotato<\/em>, a popular analyst, \u2018CryptosRus\u2019 predicted a $6 target by late 2025 if trends repeat. However, the latest rally hasn\u2019t been without profit-taking.<\/p>\n A separate analysis<\/a> by IntoTheBlock revealed that the total number of Cardano addresses has dropped by 30,000 since November 5th. This decline suggests a wave of profit-taking by investors who capitalized on the rally, potentially cashing out after the token\u2019s substantial upward movement.<\/p>\n Such activity could indicate short-term sell-offs, even as broader market sentiment remains optimistic about the crypto asset\u2019s growth.<\/p>\n The post Cardano\u2019s On-Chain Activity Soars as ADA Rockets Above $0.8<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Cardano (ADA) has experienced a remarkable rally this month, mirroring and even surpassing the broader crypto market\u2019s momentum. Following months of subdued performance, ADA\u2019s on-chain activity has surged as well, as it decoupled from the altcoin pack. On-Chain Metrics Show Significant Growth According to data from popular on-chain analytic platform Santiment, the ADA transaction volume […]<\/p>\n","protected":false},"author":0,"featured_media":22053,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-22052","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/22052"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=22052"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/22052\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/22053"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22052"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22052"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22052"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Correction Soon?<\/h2>\n