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Whales in the Cardano ecosystem are accumulating native ADA cryptocurrency despite the fact that the value of the asset has collapsed by almost 60% from the maximum
Cryptocurrency whales are accumulating ADA despite the fact that the coin has fallen in price by 60% relative to the historical maximum. Santiment analysts announced this on their Twitter.
The top whales (with 10 million ADA and more) have increased their reserves to a two-year high, they said. Now their accounts have accumulated 46.6% of the total supply of coins in circulation. However, as Santiment emphasized, most of these whales are essentially cryptocurrency exchanges.
- The current ADA exchange rate is $0.96. During the day, the coin fell in price by 1%, and on a weekly scale it completely collapsed by almost 18%.
- The market capitalization of Cardano is $31 billion. The coin is ranked 8th in the ranking of cryptocurrencies in terms of market capitalization, according to Nomics.
- The average daily trading volume was fixed at $8.6 billion, while at the end of March this figure was $1.5 billion.
- The ADA cryptocurrency in the ADA/USD trading pair was able to reach its historical maximum in early September, when the quotes rose to $3.10.
Read also: Cardano (ADA) will cost $58 by 2030 – expert survey
- Only 15% of ADA holders bought coins below the current rate. More than 80% of ADA holders at the time of writing are incurring losses on their investments.
- About 76% sell coins within a year of purchase. The share of long-term holders does not exceed 11%.
- The correlation of the ADA rate with Bitcoin is 0.94%. This means that the value of the coin almost completely repeats the dynamics of BTC.
- More than $304 million in ADA tokens are locked in DeFi protocols, according to DefiLlama. During the day, the volume of TVL decreased by 2%.
You can read about what caused the growth of DeFi activity and smart contracts based on the Cardano network in the BeInCrypto editorial material.
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