Blockchain Slush Skull Alert has discovered a major cryptocurrency movement with around 70 million ADAs. This was the withdrawal from Coinbase, the largest cryptocurrency exchange in the US, which was recently added to the S&P 500 index.
On the aforementioned blockchain tracking platform, we noticed that 68,769,654 ADAs have been transferred from Coinbase to an anonymous blockchain address. This amount of Cardano cryptocurrency is equivalent to Fiat’s $52,966,118. The transaction took place more than an hour ago.
Over the past 24 hours, Cardano’s native token, ADA, lost 7.7%, falling from $0.8293. Now he has a slight recovery of 1.5% and has changed his hands at $0.7754 per token.
225,000 new ADA wallets have been created this year
As previously reported by U.Today, around 255,000 new wallets have been created this year on the ADA network. This means that every day new users create around 1,700 ADA addresses. The number of new wallets continues to grow. In this context, the aforementioned withdrawal from Coinbase appears to be likely to be accumulating this top 10 crypto assets.
Meanwhile, the Crypto market is currently enjoying the bull run, but the ADA has formed a triple top formation on the charts. This is a bearish inverted value. This is characterized by three consecutive peaks touching almost the same price level. This represents a point of resistance and means a reversal from an uptrend to a downtrend. The emergence of this pattern shows that buyers lose strength and the market gradually becomes dominated by sellers.
Between May 7 and May 12, when the ADA reached its second peak of resistance, Coin’s price added 28.53%, rising from $0.6588 to $0.8468. As of press time, the ADA is sitting at $0.7728.
