A well-known cryptocurrency has been named, the popularity of which has increased by 28,372%

The cryptocurrency Cardano (ADA) has witnessed an extraordinary surge in large holder inflows, a metric that tracks funds flowing into whale addresses. This is a significant step in Cardano’s quest to maintain its position among the 10 largest cryptocurrencies by market capitalization.

According to IntoTheBlock, ADA has seen a staggering 28,372% surge in large holder inflows, soaring from 54.93 million ADA on April 13 to 6.32 billion ADA on April 14.

The inflow of funds from large holders may indicate significant buying activity. This is because whale addresses are bought on centralized exchanges and subsequently transfer their purchases to cold storage.

The ADA price is trying to rebound after falling to a low of $ 0.40 on April 13, the lowest level seen since early December 2023. At the time of writing, the ADA price is down 0.5% over the past 24 hours, trading at $ 0.45.