Key Insights
- Cardano hits 113 million transactions, reinforcing consistent network activity on its proof-of-stake blockchain.
- Whale wallets accumulate 150 million ADA in two weeks, boosting total holdings to 5.59 billion.
- ADA consolidates near $0.84 with neutral RSI and slowing bullish momentum after
Cardano has crossed 113 million transactions on its mainnet, according to data shared by Mintern. This milestone reflects the continued growth of network usage and activity on one of the largest proof-of-stake blockchains.
The steady rise in transactions suggests that activity on the Cardano network has remained consistent. While the figure shows higher usage, questions remain about whether this activity translates into accelerated adoption in real-world applications. A user noted, “Cardano $ADA has surpassed 113,000,000 transactions on mainnet,” pointing to the latest achievement.
Whale Accumulation Strengthens
At the same time, whale wallets have been actively adding to their holdings. Data from Ali indicates that 150 million ADA were accumulated by large addresses in the past two weeks. These wallets typically hold between 1 million and 10 million ADA each.
Chart data confirms this accumulation, showing a steady rise in holdings to about 5.59 billion ADA. During the same period, ADA’s price rose from roughly $0.70 to $0.85, showing a close relationship between accumulation and upward price movement. Ali stated that “150 million Cardano $ADA accumulated by whales in the last 2 weeks,” underlining the scale of buying activity.
Current Market Conditions
As of today, the price of Cardano (ADA) is $0.8423, with a 24-hour trading volume of $1.44 billion. The token is down 3% in the last 24 hours and 11% over the past week.
The daily chart shows ADA pulling back after testing the $1.00 resistance level earlier this month. The token is now consolidating around the $0.84 mark, with short-term support observed in the $0.82–$0.84 range. Resistance remains near $0.90–$1.00.
Technical Indicators Show Neutral Momentum
The Relative Strength Index (RSI) is at 51.20, indicating neutral momentum after cooling from overbought levels. ADA is neither overbought nor oversold, pointing to a period of consolidation unless a breakout or breakdown occurs.
The Bollinger Band Trend (BBTrend) indicator shows a reading of 11.87, with green bars still present. This reflects ongoing bullish momentum, although weaker than earlier in August. If ADA maintains its support zone, momentum could continue, but a drop below $0.80 may signal short-term weakness.
Overall, Cardano’s achievement of 113 million transactions combined with whale accumulation shows strong network activity. Whether this translates into broader adoption will depend on how the network sustains demand and price stability.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Source: https://coincu.com/analysis/cardano-hits-113m-transactions-milestone/