Data provider Santiment recently said that Cardano whales accumulated a staggering amount of ADA tokens in June and that “it could get interesting” if this trend resumes in August.
Whale addresses go for ADA
The whales bought $138 million worth of Cardano tokens in June. This happened less than a week after the price of the coin fell. The researchers point out that this will become especially interesting if these huge token purchases continue to continue.
At the beginning of July, whales also collected large numbers of ADA tokens. At the time, whales bought $79.1 million in ADA within a month. So if the trend continues, it could be a very good sign for the Cardano price.