Subscribe to our Telegram channel
Cardano is approaching a bearish trend — analysts
Analytical company Santiment warns that blockchain data indicates that traders are actively recording profits from their positions in the Cardano token ADA $0.68 Cardano 3.82% Market capitalization $24.53 billion VOL. 24 hours $74.37 million . This can trigger a significant drop in the asset price.
According to Santiment, after ADA’s growth of more than 220% this month, traders began to sell assets en masse.
Thus, on November 22, they recorded profits of $ 165 million, which was the largest one-day profit realization in the last eight months. In addition, Cardano’s social media discussions reached a peak in 11 months.
Photo: santiment
At the time of writing, ADA’s price reached $ 1.05, its market capitalization is $ 36.70 billion, and daily sales reached $ 3.71 billion.
Photo: coinmarketcap.com/
Photo: santiment