A Cardano (ADAThe whale metric indicated that Ethereum recently (ETHAccording to Santiment, a competitor of Bitcoin could see a sudden price drop.
Cardano whales transactions worth over $100,000 were made on Monday surged The highest since November 8,
Santiment explained
“These spikes in whale activity historically correlate with potential price reversals. ADA’s market cap has shrunk -43% since March 13th.”
ADA has a price of $0.441. The market capitalization of the 11th-ranked cryptocurrency asset has dropped nearly 4% over the last 24 hours. It is also down more than 12% for the week, and 32% more in the month.
Santiment notes Crypto trading volumes recently fell to their lowest levels since the beginning of January. This indicates that traders are unsure.
“Bitcoin has seen a trading volume drop of 60-65% since its big week of trading at the end of February. There are many factors that can signal a turnaround, but watch for a spike in volume as a potential turnaround signal for a market-wide rally as we head into May.”
BitcoinBTC(at the time of this writing) was trading at $60.442. The market capitalization of the crypto-asset ranked first is down by over 5% within the past day, more than 10% in the previous week and nearly 15% for the entire past month.
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