Cardano (ADA) $100M Whale Redistribution Could Spark Bullish Momentum

Cardano reached a major milestone with the integration of LayerZero on Thursday, February 12, a leading omnichain messaging protocol. 

As per Intersect, this new collaboration connects Cardano to over 150 blockchains and $80 billion in assets, unlocking cross-chain opportunities such as stablecoin liquidity, Bitcoin-backed assets, tokenized real-world assets, and shared DeFi infrastructure for Cardano users.

As part of Cardano’s Critical Integrations workstream, this integration is a major step forward in enhancing the scalability and utility of the ecosystem. 

With Intersect at the helm of affairs, the deployment phase begins, and Cardano is on course for steady growth and increasing global relevance. 

This breakthrough places the network on center stage in the Web3 space, reinforcing its commitment to interoperability and decentralized finance that has always been its hallmark.

Whale’s ADA Redistribution Signals Renewed Interest

Additionally, over the past week, ADA has experienced a major redistribution as whales have moved 190 million ADA, worth over $100 million, as estimated by crypto analyst Ali Charts as of Thursday, February 12. 

This is often seen as a signal of major ADA holders reshuffling their funds, sparking speculation of what is to come in terms of price movements.

Source: Ali Charts X Post

The redistribution may have implications for the staking situation on Cardano, as the tokens shift between pools and further influence the centralization of the network. 

Such a move by the whale could have implications for the liquidity and trading volume, potentially creating further opportunities for investors. 

While the implications of this situation remain unknown, it is a further indicator of the interest and participation within the Cardano blockchain.

Cardano (ADA) RSI and MACD Point to Bullish Potential

After these milestones, ADA is currently trading at $0.26758, up by 1.90% from its previous level, according to TradingView as of Thursday, February 12. 

The chart indicates a possible trend reversal, as it reflects a rebound from a recent dip, with the asset rising from a trough around $0.2612. Indicators like RSI and MACD provide further information.

Source: TradingView

The RSI stands at 41.09, which indicates a neutral market, favoring the lower side. This indicates that the price has the potential to move upward. 

The MACD stands at a positive value of 0.00095. This indicates a mild bullish bias, as the MACD line crosses over the signal line. The histogram also confirms the rising bullishness and indicates that the price will move upward.

Also Read: Cardano (ADA) Shows Weak Momentum as Analysts Eye $0.305 Rebound