U.Today – Market Overview

The broader digital currency ecosystem slipped, led by Bitcoin (BTC), with altcoins following suit. Price reversals prompt many digital currencies to seek a price floor for an imminent rebound.

BTC, DOGE, and ADA Whale Similarity

Data from IntoTheBlock (ITB) indicates that Bitcoin, Dogecoin (DOGE), and Cardano (ADA) have similar whale activity trends. Large transactions over $100,000 on the Bitcoin network surged by over 78% in the past 24 hours, totaling $43.63 billion.

Dogecoin whales also showed significant activity, rising by 58.67% to $1.85 billion. Cardano's whale transactions increased by 28.19% to reach $7.23 billion.

These three assets lack an active burn mechanism, meaning large transactions could potentially fuel price growth.

When Rebound?

As metrics change with market volatility, increased whale transactions may help reverse the current BTC price drop of 0.93%, now at $66,896.02. Cardano's ADA price is currently $0.3576 with a stable growth rate, aided by ecosystem sentiment after the Chang hard fork upgrade.

In addition, Dogecoin might experience a growth surge as investor interest for the meme coin rises. Currently, it’s looking to rebound from $0.1392, despite a 2.39% decline.

This article was originally published on U.Today