Like the cryptocurrency market in general, Cardano had a slow month. However, high-profile investors gradually began collecting significant amounts of ADA tokens. 🐳 Cardano whales – those holding between 100 million and 1 billion ADA – added 11% to their balances in the last month. This indicates increasing confidence or strategic positioning among large ADA holders. This group of investors currently owns 6.71% of the entire token supply. This highlights the important impact of whales within the Cardano ecosystem. 📈

In recent weeks, there has been a gradual increase in Cardano whale activity as previously reported. Historically, such increases in whale activity have been associated with potential price reversals that suggest changes in market sentiment. However, contrary to this trend, ADA followed the overall market movement closely and saw a modest recovery on Thursday. ADA is up nearly 6% in the last 24 hours, reaching $0.456 at the time of writing.

Experts believe that ADA could repeat its rise in 2021 and even target the $7.80 level. Even more bullish predictions suggest that the world's 10th-largest cryptocurrency by market cap could reach $1.70 levels in the short term, with a potential "parabolic" peak of $10. This reflects strong confidence in growth prospects.

Earlier this week, speculation that Gemini might begin listing ADA increased following a popular post from the exchange. If the US-based cryptocurrency exchange goes ahead with listing ADA, this could trigger a significant price rally for the token.

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