Recent survey on Twitter has shown that during current bear market a lot of investors prefer ADA to other digital currencies
Cardano founder Charles Hoskinson took to Twitter to comment on a recent survey conducted by @LondonRealTV, the Twitter account of the media company of the same name.
Almost 80% of respondents in this survey have voted for Cardano’s native token ADA as something they prefer over other major cryptos in a bear market.
Meanwhile, Cardano whales moved large amounts of ADA just before the price of the coin rose significantly.
ADA is preferred during bear market
The survey run by London Real TV asked crypto community members which coin they prefer to hold most during the current bear market. The respondents were offered to choose between the two largest coins, Bitcoin and Ethereum, followed by Cardano’s ADA and “other cryptos.”
A total of 76.9% of the votes went to ADA, 11% and 5% were in favor of Bitcoin and Ethereum respectively. A total of 8,861 voters took part in the ballot.
Whales move ADA ahead of 32% rise
Santiment on-chain data provider has reported that last Friday, the number of whale transactions suddenly went up.
Approximately 39 transfers, each carrying over $1 million worth of ADA, were detected between 2 and 3 p.m. UTC on Friday, June 3. After that, according to Santiment, the price of the coin jumped over 32%. The coin also hit a 17-day peak in chat rate.
Back on that day, the tweet says, whales were accumulating ADA on the dip, pushing the price up.
As of this writing, the sixth largest cryptocurrency is changing hands at $0.6344.
