COINTURK NEWSCOINTURK NEWSCOINTURK NEWS
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Search
© 2024 COINTURK NEWS. All Rights Reserved.
Reading: Whales Sell $326 Million Worth of Cardano After Chang Hard Fork
Share
Languages
  • TürkçeTürkçe
  • EspañolEspañol
Font ResizerAa
COINTURK NEWSCOINTURK NEWS
Font ResizerAa
Search
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
COINTURK NEWS > Cardano (ADA) > Whales Sell $326 Million Worth of Cardano After Chang Hard Fork
Cardano (ADA)

Whales Sell $326 Million Worth of Cardano After Chang Hard Fork

In Brief

  • Whales sold $326 million worth of Cardano after the Chang hard fork.

  • Cardano's NVT ratio reached an annual peak of 6.43, indicating overvaluation.

  • Cardano's future remains uncertain, with potential further price declines.

COINTURK NEWS
COINTURK NEWS 9 months ago
Share
SHARE

In the cryptocurrency market, the movements of big players, or whales, are always closely watched. The recent situation with Cardano perfectly illustrates this. After the Chang hard fork, whales put $326 million worth of Cardano up for sale. The sale put pressure on Cardano’s price and delayed the expected market breakout.

Contents
Interesting Data: Cardano OvervaluedUncertain Future for ADA Coin

Interesting Data: Cardano Overvalued

Cardano’s overvaluation has caused a negative sentiment in the market. The Network Value to Transaction (NVT) ratio is considered an important indicator that measures the value of a cryptocurrency based on its transaction volume. ADA’s NVT ratio has reached an annual peak of 6.43. This ratio usually signals corrections or delays in rallies.

Investors’ lack of reaction to the overvaluation is making Cardano’s situation even more difficult. Especially, large wallet holders with between $100,000 and $1 million in ADA have sold about 15% of their ADA in the last ten days. The sale aligns with a ‘sell the news‘ strategy that occurred after the Chang hard fork. Typically, the excitement before such major developments gives way to sales and price drops once the event happens.

Uncertain Future for ADA Coin

The future path of Cardano remains uncertain. While there is a possibility of recovery in the medium term, market conditions and investor confidence will closely impact this process. Cardano has been moving in a volatile pattern for over four months, and breaking out of this pattern may take time. The price could fall further and reach levels as low as $0.31. This level has previously served as a strong support point.

If Cardano manages to recover from this support level, a 47% increase in the cryptocurrency market could be possible. However, if overall market conditions and investor sentiment do not improve, further price declines are likely. These are the situations that could further delay the anticipated rise of the cryptocurrency Cardano.

Cardano’s challenges have once again highlighted the importance of investor confidence and market conditions. As of writing, ADA’s price was trading at $0.33.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

You Might Also Like

Cardano Excels with Impressive Surge: Transactions and Investor Interest Soar

Cardano Rises Above Challenges to Establish Strong Ground

Cardano Aims to Rise Past USDC in Market Value

Cardano Surges as Bullish Patterns Signal Growth

Cardano Price Rises as Investors Anticipate Psychological Threshold

COINTURK NEWS 3 September, 2024 - 9:54 am 3 September, 2024 - 9:54 am
Share This Article
Facebook Twitter
Share
Previous Article What is Fusionist (ACE) Coin?
Next Article Binance Futures Launches USDT-Margined FLUX Futures
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stay Connected

8.1k Like
21.1k Follow
1.1k Follow

Latest News

Cryptocurrency Expert Bluntz Predicts Rally for SPX6900 and WIF
Altcoin News
Cryptocurrency Trends Take a Twist: What’s Next for Bitcoin and Altcoins?
Cryptocurrency News
Ripple Faces Crucial Court Deadline as SEC Submission Looms
Ripple (XRP)
Trump Shakes the Cryptocurrency World with Controversial Bill Proposal
Cryptocurrency News
//

COINTURK was launched in March 2014 by a group of technology enthusiasts who believe that Bitcoin will be as important as the internet in the world of the future thanks to the amazing technology underlying it.

CRYPTOCURRENCY LIVE PRICES

  • Bitcoin (BTC) Live Price
  • Ethereum (ETH) Live Price
  • Ripple (XRP) Live Price
  • Solana (SOL) Live Price
  • Dogecoin (DOGE) Live Price
  • Cardano (ADA) Live Price
  • Chainlink (LINK) Live Price

OUR PARTNERS

  • COINMARKETCAP
  • COINGECKO
  • BITCOINHABER
  • BH NEWS
  • 21MILYON
  • NEWSLINKER

OUR COMPANY

  • About Us
  • Cookie Policy
  • Advertising
  • Contact
COINTURK NEWSCOINTURK NEWS
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
Welcome Back!

Sign in to your account

Lost your password?