Cardano Bounces Back Thanks to Whales Support

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ADA, the token of the Cardano ecosystem, was trading at $0.457 at the end of May. It suffered losses after the collapse of the Terra ecosystem and exacerbated market volatility.

By the beginning of this month, the ADA price had strengthened to $0.682. However, already last week, Cardano was one of the most affected altcoins, and on Friday, it fell to $0.543.

Over the weekend, the coin started to recoup, thanks to increased whale support. According to Santiment, in 18 hours, the value of ADA rose by about 28% after addresses with more than $1 million in Cardano entered the market.

Over the night from Friday to Saturday, these wallets completed about 160 transactions for amounts of at least $100,000. After that, the price of ADA bounced to $0.574.

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