Cardano's Biggest Holding Increases 11%, ADA Could Rise to $7.80 Again

Large investors in Cardano ( ADA ) are reportedly slowly increasing their holdings of ADA tokens despite the overall muted performance of the cryptocurrency market. According to ITB's latest findings, large Cardano investors holding between $100 million and $1 billion in ADA have increased their holdings by 11% over the past month. This indicates increased confidence or strategic positioning of large investors in ADA. This investor group currently controls 6.71% of the entire token supply. In recent weeks, Cardano has seen a gradual increase in activity from large investors. Historically, an increase in large investor activity is often associated with a potential price reversal, suggesting a shift in market sentiment. However, contrary to this trend, ADA has closely followed the broader market trend and saw a modest recovery on Thursday. Experts believe that ADA could see another 2021 rally, even reaching $7.80. Further bullish forecasts suggest that the world's 10th largest cryptocurrency by market capitalization could approach $1.70 in the near term, and could even rise to the top of the "parabola" at $10, reflecting strong confidence in its growth prospects. confidence in its growth prospects.