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Cardano (ADA) up 6% Despite Market Turmoil as Whale Buys Dip

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$ADA is at 6% price increase despite 7% market drop, though it is still not enough to cover all the losses it has been facing recently

. This is a positive sign for Cardano as whales are known to have a significant influence on the market due to their large holdings.could be attributed to the popular"buy the dip" strategy, where investors take advantage of market dips to buy assets at lower prices. This strategy is especially popular among whales, who have the resources to make large purchases when the market is down.

However, it is worth noting that despite the 6% increase of ADA against BTC, the cryptocurrency has still experienced losses in the recent past. Since mid-February, ADA has lost 12% of its value, making it challenging to recover losses.Despite this setback, Cardano is a promising blockchain project that is aiming to become one of the biggest competitors of Ethereum.

Despite the recent launch of smart contract functionality through the Alonzo hard fork, the real utility of the network has not yet provided enough support for the asset on the market.

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