The post Cardano’s ADA Price May Spark a Bull Rally if This Happens appeared first on Coinpedia Fintech News

The cryptocurrency market is still in a phase of consolidation, while most of the coins this week saw some minor advances. Prices appear to be gradually rising despite some bearish sentiments hovering around.

From the beginning of 2023, Cardano’s ADA has gained by nearly 50% and is currently trading at $0.39. Nonetheless, Cardano has encountered stiff competition at the $0.40 mark. In particular, Cardano’s digital asset has hit a “colossal” sell wall worth 3.85 billion ADA.

Analyst and cryptocurrency researcher Ali Martinez highlighted the IntoTheBlock data to show how “Cardano whales” (those holding between one and ten million) had just purchased 150 million ADA tokens worth $57 million.