Cardano Sees Renewed Accumulation by Top Holders Amid Potential Capital Rotation from Ethereum
Main Idea
Cardano's ADA is experiencing renewed accumulation by top holders, contrasting with Ethereum's decline, signaling strong market confidence and potential price growth.
Key Points
1. Top Cardano addresses (holding over 100,000 ADA) have resumed accumulation, increasing holdings by nearly 30% year-to-date.
2. Ethereum's top holders have reduced their positions, suggesting a capital rotation from ETH to ADA.
3. ADA's Accumulation/Distribution (A/D) indicator shows a bullish trend with 52.34 billion ADA traded in the last 24 hours.
4. Cardano's total value locked (TVL) in DeFi protocols has reached $352 million, with $66 million of ADA moved from exchanges to private wallets.
5. ADA faces key resistance levels at $0.8365 and $0.9373, with potential to rally toward $1 if these barriers are broken.
Description
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