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Big Cardano Holders Gobble Up $138,000 ADA


coinnounce.com 09 August 2022 03:21, UTC
  
Reading time: ~2 m

New data from a prominent crypto analytics firm shows how much Carano whales and sharks have feasted on ADA over eight days. According to Santiment, oversized Cardano owners have gobbled up hundreds of millions of dollars of the smart contract platform’s native asset in just over a week.

“Cardano Shark and Whale addresses have collectively amassed $138 million in ADA eight days after the mid-June tumble around the local top. This is only slight accumulation for now, but could get interesting if this trend continues in August.”

The data also shows that addresses with 10,000 to 10 million ADA collectively gained 0.46% in ethereum (ETH) between July 27th and August 5th.

Seeing Bitcoin, Santiment notes that mentioning two sarcastic keywords on social media marked the bottom for BTC this month.

“During the 2022 crypto crash, the crowd sarcastically cried out the moon and Lambo as prices fall again. The real irony, however, is that the spikes on these words often mark moments when BTC is on the verge of a surge.”

The analytics firm adds that privacy-focused altcoin Monero (XMR) is defying the crypto bear market, up over 40% since June.

“Monero is an under-the-radar asset up +41% steadily since mid-June. There is a massive surge in sentiment toward the 28th ranked asset, which is currently its highest since May 2021.”


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