ADA Preferred by Investors in This Bear Market: Survey

Cardano founder Charles Hoskinson has taken to Twitter to comment on a recent survey conducted by @LondonRealTV, the Twitter account of the same-name media company.

Almost 80% of respondents in this survey have voted for Cardano’s native token ADA as something they prefer over other major cryptos in a bear market.

Meanwhile, Cardano whales have been moving large amounts of ADA right before the coin’s price went up significantly.

ADA is preferred during bear market

The survey run by London Real TV asked crypto community members which coin they prefer to hold most during the current bear market. The respondents were offered to choose between the two largest coins, Bitcoin and Ethereum, followed by Cardano’s ADA and “other cryptos.”

A total of 76.9% of the votes were given to ADA, 11% and 5% were in favor of Bitcoin and Ethereum, respectively. Overall, 8,861 voters took part in the poll.

Cardano always shows up in force https://t.co/RkygV4YvbR

— Charles Hoskinson (@IOHK_Charles) June 7, 2022

Whales move ADA ahead of 32% rise

Santiment on-chain data provider has reported that last Friday, the number of whale transactions suddenly went up.

Around 39 transfers, carrying over $1 million worth of ADA each, was detected between 2 p.m. and 3 p.m. UTC on Friday, June 3. After that, Santiment claims, the coin’s price soared by more than 32%. The coin also reached a 17-day peak in discussion rate.

Back on that day, the tweet says, whales were accumulating ADA on the dip, pushing the price up.

? #Cardano saw 39 whale transactions worth $1m+ between 2pm and 3pm UTC Friday. Since this hour, $ADA‘s price has risen +32%. Whales continue to show value in foreshadowing price direction shifts. The asset is also seeing a 17-day high in discussion rate. https://t.co/MLJ4oBtobn pic.twitter.com/3qes7ytsOw

— Santiment (@santimentfeed) June 7, 2022

At the time of writing, the sixth largest cryptocurrency is changing hands at $0.6344.