Cardano

Over the past 6 months, there has been a continuous increase in the transactional volume of Cardano, accompanied by a growing <a href="https://news.todayq.com/cardano-ceo-top-uk-banks-already-offer-digital-payments-give-digital-pound-a-different-approach/" rel="noopener noreferrer nofollow">interest</a> from whales and large investors. At present, Cardano (ADA) is trading at approximately $0.29. 
According to data from Santiment, an on-chain analytics firm, holders of Cardano with balances ranging from 100,000 to 10 million ADA have accumulated the highest amounts since September 2023. The data also reveals that these same Cardano holders have acquired an additional $116.1 million since May 21, 2023. 
🐳🧐 As 
In terms of ownership distribution, it is notable that only three whales hold a total of 3.23 billion ADA, equivalent to 9.39% of the total Cardano supply. Furthermore, 140 investors collectively hold approximately 7.68 billion ADA, constituting about 22.35% of the total supply.&nbsp;Noteworthy is the fact that the majority of Cardano holdings are in the hands of retail investors, accounting for around 23.46 billion ADA, or approximately 68.26% of the total supply. This underscores the importance of retail support in influencing Cardano’s price movement. Source: IntoTheBlock 
Data from Intotheblock presents a surprising perspective, with only 567.92k addresses, equivalent to 12.80% of the total ADA holders, currently in a profitable position. Conversely, a significant portion of Cardano holders, approximately 3.82 million addresses (86.05% of the total), are facing losses. A smaller fraction of holders, about 50.61k addresses (1.14% of the total), are at breakeven. Source: IntoTheBlock 
Further analysis reveals that a substantial number of holders, roughly 274.94k addresses, purchased Cardano within the price range of $0.255 to $0.264. An additional 108.24k addresses bought Cardano between the range of $0.311 and $0.320. These purchase ranges may contribute to the higher proportion of addresses currently experiencing losses. Source: IntoTheBlock 
In its Q2 2023 report, Messari indicates positive growth for Cardano, including a 49% increase in daily transactions compared to the previous quarter. Additionally, Cardano’s ranking rose from 34th to 21st in terms of total value locked (TVL), with TVL increasing by 9.7% in the last quarter and a remarkable 198.6% increase throughout the year. 
The <a href="https://news.todayq.com/report-cardano-network-has-shown-consistent-growth-transactions-up-6-1-from-previous-quarter/" rel="noopener noreferrer nofollow">report</a> underscores heightened activity on the Cardano blockchain during Q2. The ratio of transactions to active wallets has been consistently rising over the past five quarters, indicating heightened user engagement. Developer interest and technical improvements, notably led by the decentralized exchange Minswap, have driven this growth. The surge in transactions reflects increasing demand, thereby fostering expectations of potential token price appreciation. 
© Todayq News

Data: Cardano (ADA) whales and sharks accumulate $116.1 million since May 2023

Todayq News

Other articles published on Aug 8, 2023

Bitmain and Anchorage Digital Invest in Core Scientific’s Resurgence from Bankruptcy

Coinbase begins $150M debt buyback at 36% discount

Xsolla and Crypto.com Partner to Integrate Payment Solutions

Listing News From Kraken Puts These Two Altcoins On The Rise!

PayPal stablecoin launch sparks wave of fake PYUSD tokens

Rollbit Revamped Tokenomics Raise Price But Token Model Stays Opaque

Join our free newsletter for daily crypto updates!