Why Is Cardano (ADA) Up 9% Today While the Crypto Market Stalls?

ADA has outperformed all other larger-cap altcoins today. There’s rarely a big altcoin gainer during the current market conditions, in which every breakout attempt is halted in its tracks. This is particularly true for weekend moves, as the market tends to freeze on Saturday and Sunday. The latest example came in the past 36-48 hours. Even though the situation in the Middle East continues to develop quickly, with Trump claiming a Hormuz Strait deal is in the making and Iran refuting his statement once again, BTC and most altcoins have remained sluggish. However, Cardano’s ADA has emerged as the clear winner this weekend, gaining over 9% and jumping past $0.19 hours ago for the first time in almost a month. Here’s the most likely reason and what could follow next. ADAUSD on TradingView Whales Are Buying Since we are excluding a rally from the broader market, perhaps the most obvious reason behind ADA’s impressive resurgence over the past day has been the recent behavior of whales. These large market participants, who can influence the underlying asset’s price moves with big purchases or sales, have gone on an accumulation spree. Santiment Intelligence data shared by Ali Martinez sho...