According to IntoTheBlock data, Caldano Whales has become more active in the last 24 hours with a 213% increase in large trades. Large trade spikes are typically associated with increased activity from institutional participants or whales who either buy and sell or buy and sell. According to IntoTheBlock, these trades moved over $100,000.

ADA price is now trying to recover after hitting a low of $0.78 on March 11. At the time of publication, ADA was trading at $0.792, according to CoinMarketCap. Caldano is still down 74.35% from its all-time high of nearly $3 set in September 2021.

As the Caldano network hints at significant developments, large investors known as whales appear to be taking in at lower prices. It is worth noting that each market cycle has an accretion phase during which prices level off and counter-trend investors see an opportunity to buy at a discount.

When this market cycle ends, the next "price increase phase" begins. This is the stage when the market has stabilized for a period of time and begins to move higher.

Positive development

Cryptocurrency exchange Bitrue (BTR) has announced another important addition to its Cardano (ADA) based trading pairs. According to an official announcement shared on Bitrue's social media channels, Bitrue's spot trading ecosystem has launched six additional pairs using Cardano's token ADA.

Enter the neighborhood Large-scale transactions, courtesy of: IntoTheBlock

According to DefiLlama, the Cardano network's total value lock (TVL) is rapidly increasing with the debut of Minswap DEX and the growing number of decentralized products.

The total value of the Caldano network (including pledged governance tokens) has risen rapidly from approximately $199.74 million to $262 million.

The total value of funds locked in network smart contracts increased significantly from March 1 to March 12, by approximately $62 million. However, excluding pledged governance assets, Caldano's blockchain TVL was approximately $174.65 million.