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Cardano has registered a notable spike in whale activity in 2023 as large-scale transactions to the tune of $100k have reached last year’s May levels. Not only that, but since the beginning of 2023, 36 new whale addresses ranging between 1 million- 100 million worth of ADA have flocked into the Cardano ecosystem. As noted […]
The recent trend of whale accumulation follows significant selloffs in the past 2 months. Cardano (ADA) whale addresses (holding 1M to 100M ADA) have embarked on a massive accumulation rally, adding 217M+ ADA tokens to their bags since January 1. In the wake of the market-wide downturn and the unfavorable macro headwinds, these whale addresses […]
The post ADA Whale Accumulation Picks Up Amid An 8% Price Surge in 2 Days first appeared on The Crypto Basic.
Cardano’s ADA is disinflationary. The current reward distribution, down from roughly 11.5 million ADA a year ago, is about 10 million ADA every epoch, according to crypto analyst ADA whale. The unnamed expert claimed that buying and staking ADA at the current price is equivalent to mining Bitcoin in 2013–2015, and that opportunity won’t last […]
Cardano-focused community member has doubled down on the key advantages that the network’s decentralized finance [DeFi] protocols owns over its rivals. In the tweet, the pseudonymous influencer known as “ADA whale” shared that after Ethereum, Cardano is the first such protocol to built an entire DeFi ecosystem without any influence from the venture capitalists or the […]
Among the growing ecosystems, Cardano has priced more aggressively, on-chain analytics dashboard Messari tweeted. The upcoming Vasil hard fork is slated to bring significant improvements to Cardano, specifically higher throughput and smart contract enhancements. Under the report titled “Non-EVM chains in the bear market”, Messari wrote Cardano was priced aggressively compared to its adoption metrics.” […]
Cardano (ADA) has been one of the most hardly hit cryptocurrencies during the latest market crash. It has so far lost over 60% of its all-time high, putting the majority of its investors right in the loss territory. The downtrend has been a cause for alarm among holders. But it looks like not everyone feels that way as some, mostly whales, have taken this as an opportunity to increase their holdings. Whales Fill Up On ADA A report from analysis firm Santiment shows a broad accumulation trend among whales when it comes to ADA. As the price of the digital asset had crumbled, big investors had ramped up their buying activity. One would think that with such value loss as that recorded by the cryptocurrency, whales with large holdings would dump their bags to save from further losses. Related Reading | Anthony Scaramucci Urges Bitcoin Holders To Think Long-Term As Downtrend Won’t Last Instead, these whales are taking this as a buying opportunity. The Sentiment report shows that the top ADA whales have all doubled their holdings in the past 10 days. In this time period, the price of Cardano’s native token ADA had lost about 34% of its value. Whale wallets holding between 10,000 and 1 million ADA have at least doubled their previous holdings since then. In total, these whales have collectively bought over $53 million worth of ADA in a 10-day period. The average addition to their holdings comes out to around 113%, more than doubling the volume of ADA they control. ?? #Cardano's price, like many #altcoins, have plummeted in the past 10 days, dropping -34%. However, large addresses holding between 10k and 1M $ADA, own 113% more in their collective bags since the drop on January 17th, accumulating $53.6M in tokens. ?? https://t.co/9V50jyrBlX pic.twitter.com/tQdwa7ym38 — Santiment (@santimentfeed) January 28, 2022 Cardano Holders Deep In The Red Most Cardano holders remain firmly in the red, as represented by data from IntoTheBlock. The digital asset currently features one of the lowest profit rates of all the top cryptocurrencies with only 9% of holders said to be in profit. A whopping 84% of all Cardano investors continue to struggle as their holdings are sitting firmly in loss, while only 7% are holding on in the neutral territory. ADA trading a $1.02 | Source: ADAUSD on TradingView.com The cryptocurrency had managed to hit a high above $3 in an impressive rally last year. However, it has been a sad story of dips and crashes since then that has shaved about $2 off of its all-time high value. Currently, the digital asset is still struggling in the market. Related Reading | Tesla Report Shows Bitcoin Holdings Remain Unchanged At $1.2 Billion The buys from Cardano whales have worked to the good for the asset but it is too soon to tell how long the stop-gap will hold. If whales continue their accumulation trend, and smaller investors follow in the footsteps of the whales, then a reversal could very well be in the works. However, with market sentiment firmly in the bearish territory, investors may be too wary to gamble on the smart contracts network. Featured image from Nasdaq, chart from TradingView.com
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