🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

Cardano Sees Impressive Statistics Heading Into the Weekend

Published 06/04/2022, 06:51 AM
Updated 06/04/2022, 07:00 AM
Cardano Sees Impressive Statistics Heading Into the Weekend
ADA/USD
-
XRP/USD
-
BNB/BRL
-

    • By the end of May 31, ADA’s on-chain trading volume stood at $11.8B, and its year-to-date now stands at 369%.
    • Cardano got a small bounce the second half of Friday trading after large whale transaction counts began to appear on the ADA network.
    • At the moment, Cardano is trading at $0.5664 after a 2.64% drop in price over the last 24 hours.

Charles Hoskinson revealed in a Tweet on 3 June that Cardano (ADA) has the highest daily on-chain volume. By the end of May 31, ADA’s on-chain trading volume stood at $11.8B, and its Year-to-Date now stands at 369%.

By the end of May 31, ADA’s on-chain trading volume stood at $11.8B, and its year-to-date now stands at 369%.Cardano got a small bounce the second half of Friday trading after large whale transaction counts began to appear on the ADA network.At the moment, Cardano is trading at $0.5664 after a 2.64% drop in price over the last 24 hours.

Daily On-Chain Transfer Volume (Source: Kraken Intelligence, Coin Metrics)

In other Cardano news, a Tweet from Santiment on June 4 revealed that “Cardano got a small bounce the second half of Friday trading after large whale transaction counts began to appear on the ADA network. An extreme example of the last time whales accumulated on a downswing, prices jumped +28% in the span of 18 hours.”

Cardano whale transaction count (Source: Santiment)

After the Cardano whale transactions saw the spike, it led to a +5% price increase at the time.

Possible reasons for the whales’ excitement surrounding Cardano could be ADA’s Vasil Harfork Event that is just around the corner.

Cardano is currently in the 6th position on CoinMarketCap’s list in terms of market capitalization. This puts ADA behind Binance Coin (BNB) in the 5th position and right in front of Ripple (XRP) in the 7th position.

At the moment, Cardano is trading at $0.5664 after a 2.64% drop in price over the last 24 hours. This price translates to about 0.00001904 BTC or 0.0003191 ETH. ADA also saw a 24 hour high of $0.5741.

At the moment, Cardano’s market cap stands at $19,107,686,691 which is down 2.85% over the last day.

The crypto also saw a 24 hour trading volume of $846,662,424 which is 16.06% lower than yesterday’s number.

Continue reading on CoinQuora

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.