Cardano's ADA Sees 32% Rise in Whale Transactions and 5% Price Increase

According to CryptoPotato, Cardano's ADA is experiencing a surge as the transaction counts from ADA whales surpassed $1 million and higher recently, indicating a 32% increase in whale transactions. ADA is up 5% in the past 24 hours, and the prospects remain positive. Data from blockchain intelligence firm Santiment shows that whale transactions spiked in November, with the first four days of the month seeing large volume transactions hitting a count of 3,213. This number is higher than all transactions spotted in October, a significant increase in on-chain activity. The transaction volume of ADA has increased alongside the number of whale transaction counts, going from approximately 237M to 330M, peaking at 332.08 earlier this week — the highest level in the past three months. ADA remains strong, as it has been rallying since October — going from $0.24 to $0.37 at the time of writing, a 50% price surge. The total value locked (TVL) in the Cardano ecosystem is now over $240M — a 384% increase from January of this year. These levels have not been seen since April 2022. The protocol's TVL is not far away from its all-time high of $323M achieved in March. One of the main drivers of this explosive growth is new integrations, such as the strategic partnership with the Institute of Blockchain Singapore (IBS), which seeks to provide crypto and blockchain education to the masses.