capital gains tax ignition casino bitcoin

Similarly, active stablecoin deposits continue to increase, pointing to the same analogy. This means new or fresh capital is flowing into the Cardano market as traders look to buy ADA. It also shows that the Tether (USDT) stablecoin market capitalization continues to increase. Santiment data points to the same outlook, showing that the number of transactions moving more than $1 million worth of ADA is increasing. Between November 1 and November, large transactions have soared a stark 31% increase in large transactions, moving from 4,490 to 5,900. This report is corroborated by the large transactions metric on the on-chain aggregator, showing a steady rise, particularly in November. The majority of the accumulation took place between $0.249 and $0.271. Big holders accumulated 1.89 billion ADA last month, translating to over $600 million at current prices.

$ADA got a strong vote of confidence last month.

Based on reports by on-chain aggregator IntoTheBlock, these heavy-weight investors have been accumulating Cardano, taking advantage of the price range of $0.249 to $0.271 to infuse more than $600 million in capital into the ADA market at its current valuation. It is exchanging hands for $0.3554 at 7:30 am EST, with prospects for more gains as technical indicators look promising.Įxperts attribute the surge in Cardano price to large holders, otherwise termed whales, as they continue converging on ADA. The Cardano price is trading with a bullish bias despite a 1% slump in the last day and a 24-hour trading volume decrease of 10%. Join Our Telegram channel to stay up to date on breaking news coverage

Capital gains tax ignition casino bitcoin