Despite increased whale activity, Cardano (ADA) price action remains neutral for now.
The project team is taking measures to solve the problem of centralization that the SEC spoke about, but network users have not yet responded to these actions.
Big investors continue to show interest in Cardano.
According to Santiment, even with the price falling to a two-year low of $0.23, whales were making more than 100 transactions daily worth over $1 million. If ADA can break through the resistance level of $0.30, the actions of large players will be the determining factor for the price increase.
However, retail investors seem to have lost interest in ADA.
Santiment's chart shows that the number of daily users dropped by more than half from June 10 to July 6. The decrease in active addresses indicates that network participants are still not sure how the conflict with regulators will affect the future fate of the project.
This raises doubts about the future price movement of Cardano. However, it is worth noting that the cryptocurrency market is known for its instability, and a change in the situation can occur at any time.
The Cardano team continues to work on solving the centralization problem, and their efforts may bring positive results in the future.
Additionally, it is important to keep an eye on what whales are doing next, as their activity could be a key factor in ADA price recovery.
Retail investors should closely monitor developments and analyze news and analysis. When making decisions about investing in Cardano, it is important to consider both the fundamental and technical aspects of the project.
Overall, despite the current neutrality of Cardano's price action, there are many factors that could affect future price growth or decline. Stay tuned and stay up to date with the latest news to make informed decisions when investing in ADA.