ADA/USD Daily Chart
Progress on the Shelley upgrade attracted much investor hype which seemed to bolster ADA price action in the last few weeks. Asides from this, On-Chain data indicates strong fundamental strength for the crypto asset.
This is seen as IntoTheBlock metrics noted that large ADA transaction volume which refers to transactions above $100,000 has witnessed a surge recently since the beginning of this month. The fact that this spike coincided with an uptrend may seem to indicate that large buyers have been accumulating the crypto asset.
Data Provided via IntoTheBlock
Image Credit: IntoTheBlock, Shutterstock
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