Cardano’s ADA volume surge is an indication of a significant price move on the horizon.
With prices on a downward trend, some experts speculate that retailers are selling off their stash.
Recent data shows that Cardano (ADA) is witnessing record volume, signaling a major move in the coming weeks. Data dating between the 22nd and the 23rd of January reveals that Cardano’s volume soared from 234 million to 453 million. This is a significant increase and one that coincided with a price plunge for the altcoin.
Following these developments, experts warn that there could be an immediate recovery or a greater plunge in ADA prices.
At the time of press, ADA is trading at $0.4714 after a marginal positive change of less than 2%. This seems to be a first step in reversing its trend after losing around 10% in the last 7 days.
If the bearish trend continues, ADA risks losing its prestigious top-ten position. At the time of press, the altcoin enjoys a market cap of a little over $16.5
