- On February 3, 2023, the network had 105 transactions of over $100,000.
- DeFi TVL on Cardano on January 1, 2023, was $48.95 million and recently was $105.61 million.
The buzz around it increases whenever whales perform a move on a coin or token. According to data analyst Santiment, whales in Cardano ADA made significant transactions in 2023. February 3, 2023, data shows the network managed 105 transactions of over $100,000. These are the highest number since FTX collapsed.
Possible Implications
As per Samtiment, the increased whale action is generally followed by a rally and could be considered an indication of “upcoming price shifts.” when the last time there were similar whale movements in May 2022, ADA’s value jumped by 36%. Coincidently this year, history repeated itself, and a rise of 59% was noted.
Source: https://www.thecoinrepublic.com/2023/02/09/cardano-ada-whales-transactions-increased-defi-tvl-doubles/