Deep-Pocketed Investors Accumulating Cardano (ADA) Despite Crypto Market Slowdown
Blockchain analytics platform Santiment reveals that despite the current stall in the crypto market, wealthy investors are actively accumulating large amounts of Cardano (ADA). Here are the key points:
– The number of wallets holding 100,000 or more ADA tokens has surged to 25,294, reaching a level not seen since April 2022.
– This increase in whale and shark wallets comes despite negative trader sentiment towards Cardano, with a decline of around 35% since its peak in 2023.
– Other altcoin projects are also experiencing unexpected increases in trade volume, such as Solana, Pepe, Shiba Inu, and HarryPotterObamaSonic10Inu.
– Santiment is closely monitoring GitHub development activity and notes that blockchain oracle network Chainlink (LINK) has re-entered the top five.
– Despite the bear market, Santiment’s findings suggest that there is significant interest and accumulation of Cardano among deep-pocketed investors.
It seems that despite the current market conditions, there are still investors who believe in the potential of Cardano and are taking advantage of the lower prices. This highlights the resilience and long-term investment perspective of these individuals. While the crypto market may be experiencing a slowdown, opportunities still exist for those who are willing to take a closer look.
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