Cardano Whales Loading Up as ADA Price Maintains Sideways Movement
Data from blockchain analytics platform Santiment shows whales are eagerly stocking up on ADA , Cardano’s native cryptocurrency. The numbers of ADA added to existing wallets which hold between 100,000 and 10 million ADA, have soared to heights last seen in September 2022.
Santiment wrote: “As Cardano sits just above $0.29, whales and sharks holding between 100K-10M $ADA have accumulated back to their highest level since September, 2022. Additionally, on-chain transaction volume has been rising nearly every week for the past 6 months.”
Despite the legal woes caused by the SEC’s blanket assumption that dozens of cryptocurrencies, including ADA, are securities, daily trading volumes have steadily risen to over 67 billion ADA. The whales and sharks in question have amassed $116.1 million more in ADA since May 21 of 2023.
The renewed interest has, however, attracted bad actors, it seems. According to some in the Cardano community, a potential rug pull of 60,000 ADA has occurred, it seems the associated Twitter account from blockchainmages has since been deleted.
Popular community member Cardano Whale, who regularly buys hundreds of thousands of ADA worth of DeFi (decentralized finance) tokens to jump-start emerging projects on Cardano, was among the victims, it appears.
Read More: https://zycrypto.com/cardano-whales-loading-up-as-ada-price-maintains-sideways-movement/
Data from blockchain analytics platform Santiment shows whales are eagerly stocking up on ADA , Cardano’s native cryptocurrency. The numbers of ADA added to existing wallets which hold between 100,000 and 10 million ADA, have soared to heights last seen in September 2022.
Santiment wrote: “As Cardano sits just above $0.29, whales and sharks holding between 100K-10M $ADA have accumulated back to their highest level since September, 2022. Additionally, on-chain transaction volume has been rising nearly every week for the past 6 months.”
Despite the legal woes caused by the SEC’s blanket assumption that dozens of cryptocurrencies, including ADA, are securities, daily trading volumes have steadily risen to over 67 billion ADA. The whales and sharks in question have amassed $116.1 million more in ADA since May 21 of 2023.
The renewed interest has, however, attracted bad actors, it seems. According to some in the Cardano community, a potential rug pull of 60,000 ADA has occurred, it seems the associated Twitter account from blockchainmages has since been deleted.
Popular community member Cardano Whale, who regularly buys hundreds of thousands of ADA worth of DeFi (decentralized finance) tokens to jump-start emerging projects on Cardano, was among the victims, it appears.
Read More: https://zycrypto.com/cardano-whales-loading-up-as-ada-price-maintains-sideways-movement/
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