Cardano Whale Count Reaches New High Amid Increased Accumulation
- The Cardano network has seen a rise in large wallets, with addresses holding over 10 million ADA reaching a four-month high.
- The number of such wallets increased by 5.2% over the past nine weeks, totaling at least $2.4 million per wallet at current exchange rates.
- As of now, there are about 424 Cardano whales, the highest since December last year.
- Cardano’s market value has risen by +11% since February, despite recent price fluctuations.
- Dogecoin also saw significant whale activity with a net buying of approximately 500 million tokens during a market squeeze.
The increase in large wallets on the Cardano network suggests growing interest from big-money investors, potentially indicating confidence in its future performance. This trend is mirrored in other altcoins like Dogecoin, where whales have been active amidst market volatility.
With the number of Cardano whales at its highest level in months, this could signal potential bullish momentum for the cryptocurrency as it continues to attract substantial investments from major holders.(Source)
