What's Hot

    Many American stars face lawsuits for promoting cryptocurrencies

    03.02.2023

    What is happening in the NFT market in 2023. Which collections are the most profitable

    03.02.2023

    how the decision of the American authorities affected the crypto market

    03.02.2023
    Facebook Twitter Instagram
    Saturday, February 4
    Facebook Twitter Instagram
    Crypto News
    • Home
    • Bitcoin
    • Ethereum
      • Altcoins
      • ICO
    • Analytics
    • Blockchain
    • Other
      • DeFi
      • Mining
      • Regulators
      • Security
    Crypto News
    Home»Altcoins»The 10% richest Cardano addresses control 94% of all ADA
    3945365a5cdb18989aa21ba036ab5090cfa49247
    Altcoins

    The 10% richest Cardano addresses control 94% of all ADA

    AdministratorBy Administrator14.12.2021No Comments3 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email


    Reading time: ~ 2 m


    Despite a turbulent 2021 for the entire cryptoindustry, the whales of Cardano seem to be untouched by this, as a small number of the richest ADA holders control roughly 94% of the total circulating resources.

    The data shows that as of December 13, 2021, the top 10% of Cardano whales hold 31 billion of the 33.43 billion coins in circulation above the ADA, according to data pulled from analysis by the Coin Metrics platform.

    It is noteworthy that the number of ADA in the first 10% of addresses has been growing steadily since the beginning of the year. Starting at $ 30 billion in January, the number of ADAs owned by these addresses increased by more than 1 billion, representing an increase of 3%.

    The 10 richest Cardano addresses control 94 of all ADA

    The sum of all coins belonging to the richest 10% addresses at the end of this interval. Source: CoinMetrics

    Cardano whales accumulate, not sell

    Interestingly, Coin Metrics data shows that more ADA is accumulating at these top addresses, which correlates with the increase in developer activity on the web. In addition, according to Santiment, Cardano, Polkadot and Solana were among the top 3 networks with the highest daily development activity by the end of 2021.

    Indeed, Cardano is working on a number of projects on its network, such as smart contract development and the DeFi ecosystem. There is a possibility that these changes could act as a catalyst for increased confidence in the asset, which could be related to the increase in the amount of ADA that whales possess.

    The 10 richest Cardano addresses control 94 of all ADA

    The best crypto projects leading the daily development. Source: Santiment

    Meanwhile, an October report by digital asset manager Grayscale Investments, titled An Introduction to Cardano, says Cardano is undervalued compared to the second largest cryptocurrency, Ethereum. The report comes after the ADA hit an all-time high of over $ 3 in early September, starting at $ 0.178 in January.

    The crypto community recently bet that the price of Cardano will rise 80% and reach $ 2.4 by December 30, indicating that the community is confident in its growth. Cardano also recorded higher network activity with twice the transaction volume than Ethereum, and also ranks second in network activity.

    Some whales also control Bitcoin

    Cardano has a small percentage of whales controlling most of its supply, but it’s not the only cryptocurrency that does this. The number one cryptocurrency, Bitcoin, also has leading whales controlling an even higher percentage of its circulating supply. Earlier this year, it was reported that 99% of BTC in circulation came from just 10% of BTC wallets.

    This raised questions about Bitcoin’s decentralization requirements, especially since miners were also heavily concentrated in China at the time. With regard to Cardano, this question has not yet been raised, even though its whale stocks are growing significantly.

    Posted by Newt Salamander, Analyst at Freedman Club Crypto News




    #richest #Cardano #addresses #control #ADA

    ADA Addresses Cardano control richest
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Avatar of Administrator
    Administrator

    Related Posts

    Crypto bloggers will fall under the control of the FCA

    03.02.2023

    crypto whales made large transactions in 4 altcoins

    03.02.2023

    Key Ripple-Backed XRP Ecosystem Shut Down

    03.02.2023

    Twitter Suspends Doge Tipping Tool

    03.02.2023
    Add A Comment

    Leave A Reply Cancel Reply

    Recent Posts
    • Many American stars face lawsuits for promoting cryptocurrencies
    • What is happening in the NFT market in 2023. Which collections are the most profitable
    • how the decision of the American authorities affected the crypto market
    • Crypto bloggers will fall under the control of the FCA
    • Top 6 most successful altcoins this week
    Recent Comments
    • 수원출장 on A professor from a US university restored the Tornado Cash code to GitHub
    • 123 on Taproot support added to LND Lightning client
    • houston junk car buyer on 16,000% increase in social media mentions in 2021 Shiba inu
    • Jim Carrey Memy on Bitwise Launches NFT Tracking Index Fund
    • hotshot bald cop on Kava developers launch testnet with EVM support
    Archives
    • February 2023
    • January 2023
    • December 2022
    • November 2022
    • October 2022
    • September 2022
    • August 2022
    • July 2022
    • June 2022
    • May 2022
    • April 2022
    • March 2022
    • February 2022
    • January 2022
    • December 2021
    • November 2021
    • October 2021
    • September 2021
    • August 2021
    • July 2021
    • June 2021
    • May 2021
    • April 2021
    • March 2021
    • February 2021
    • January 2021
    • December 2020
    Categories
    • Altcoins
    • Analytics
    • Bitcoin
    • Blockchain
    • Ethereum
    • ICO
    • Mining
    • Other
    • Regulators
    • Security
    Meta
    • Log in
    • Entries feed
    • Comments feed
    • WordPress.org
    Top Posts

    Subscribe to Updates

    Get the latest sports news from SportsSite about soccer, football and tennis.

    Advertisement
    Demo
    Facebook Twitter Instagram Telegram
    • Home
    • Bitcoin
    • Ethereum
    • ICO
    © 2023 Bt-Crow.com - CryptoNews

    Type above and press Enter to search. Press Esc to cancel.