- Wealthy crypto investors continue to amass Cardano’s native asset, ADA. As a result of this accumulation wave, giant wallets have increased their balances to an all-time high.
The analytics team at IntoTheBlock, an on-chain data aggregator, shared in a tweet that whales continue to receive large amounts of ADA. According to the statement, the wallet balances of the whales reached a new record level.
Whales’ ADA balances rise to 12.47 billion tokens
In this recent tweet, IntoTheBlock also shared that the amount of Cardano (ADA) held in wallets with 1 million to 10 million ADA has increased exponentially this year.
The ADA supply held by these crypto addresses has increased from 8.09 billion to 12.19 billion. Three days ago, on March 1, the ADA balance held by these wallets reached an all-time high of 12.47 billion ADA.
Accumulation continues.
The balance held by addresses with 1m-10m $ADA has grown exponentially in 2022, from 8.09b to 12.19b ADA 👀
On March 1 it reached a new ATH of 12.47b ADA held by these addresses.@Cardano data: https://t.co/8ME8STegu5
Use the code idbcardano to sign up pic.twitter.com/haJuPHObSm
— IntoTheBlock (@intotheblock) March 3, 2022
Smaller investors collect 16 million ADA in 24 hours
Santiment analytics company reported Wednesday that a series of wallets holding between 100,000 and 1 million ADA seized 16,000,000 ADA in just twenty-four hours.
Cardano’s shark wallets have also recently increased their ADA holdings. On February 23, Santiment announced that these wallets with balances between 10,000 and 100,000 ADA had purchased another six percent of the circulating ADA supply in the previous five weeks.
It’s trading at $0.89 at the time of writing, down 4% in the last 24 hours.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.