200,000,000 ADA Cumulative Transfer Stuns Community: Details

According to recently published data, over the past month, hundreds of millions of Cardano’s native coin, $ADA, have been moved over the past month.

Cryptocurrency trader and analyst Ali Martinez has shared a chart provided by the on-chain data aggregator Santiment to show that in March, large holders, known in the crypto space as whales, unloaded almost 200,000,000 $ADA coins. They were wallets holding between one million and 10 million $ADA.

The supply held by those wallets gradually declined along with the $ADA price, as the chart shows — the coin went down from $0.808 to $0.637 and then made a small recovery to the $0.673 price level.

The community was clearly upset by whales selling such a large amount of $ADA. They expressed their indignation in the comments under the tweet.

Cardano sees $63.3 million in monthly inflows

A report recently shared by CoinShares investment fund shows that crypto investor sentiment has made a substantial pivot as almost $200 million flowed into Bitcoin-based exchange-traded products. Mostly this was due to spot Bitcoin ETFs.

However, altcoins also saw inflows, though not as significant as the world’s flagship cryptocurrency did.

Cardano attracted $0.6 million last week, which totaled $63.3 million month-to-date. The year-to-date inflows stand at $70 million. Overall, exchange-traded products now hold $121.2 million of investments under management.

$XRP surpassed $ADA here, scooping up $4.8 million last week, which added up to $15 million month-to-date, $168.1 million year-to-date inflows and a total of $957 million held in $XRP-based ETPs.

Solana and Ethereum surpassed all altcoins on this list, with $7.8 million and $15 million in inflows last week.

Cardano’s $ADA is currently changing hands at $0.6792 per coin.