Cardano

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<a href="https://u.today/cardano-ada-up-17-heres-why-it-is-ready-for-next-rally" rel="noopener noreferrer nofollow">ADA</a>, Cardano's native token, has experienced a notable uptick in investment from heavyweight investors, according to <a href="https://twitter.com/intotheblock/status/1721871580291027260" rel="noopener noreferrer nofollow">data</a> from analytics firm IntoTheBlock.
Notably, this accumulation occurred within the $0.249 to $0.271 price range, marking an infusion of over $600 million into ADA at its current valuation.
<h2 id="recent-changes-in-ownership">Recent changes in ownership</h2>
An in-depth analysis of ADA's ownership distribution presents a nuanced view of market dynamics.&nbsp;
Small-scale holders with 0-100 <a href="https://u.today/cardano-ada-tvl-growth-remains-unhinged-hits-250-million" rel="noopener noreferrer nofollow">ADA</a> represent around 179,460 addresses, experiencing a marginal 30-day decrease of 0.15%.&nbsp;
On the other end of the spectrum, addresses holding between 100,000 and 1,000,000 ADA saw growth of 0.87%, and those with 10,000-100,000 ADA increased by 0.81%.
Remarkably, the count of addresses with holdings valued over $10 million soared by 138.89%. This indicates a bullish outlook among the most affluent investors in the <a href="https://u.today/cardano-ada-polkadot-dot-collaboration-might-be-good-news-opinion" rel="noopener noreferrer nofollow">Cardano</a> ecosystem.
<h2 id="surging-cardano-defi">Surging Cardano DeFi</h2>
Cardano is steadily advancing toward becoming one of the top 10 cryptocurrency chains by total value locked (TVL), a crucial metric for the vibrancy of its <a href="https://u.today/defi-can-be-killed-if-this-tax-proposal-is-introduced" rel="noopener noreferrer nofollow">DeFi</a> sector.&nbsp;
Currently, Cardano boasts a TVL of $245.45 million, marking a substantial 53.22% hike in one month. As <a href="https://u.today/cardano-eyes-top-10-crypto-chains-by-total-value-locked" rel="noopener noreferrer nofollow">reported</a> by U.Today, this spike signifies burgeoning investor interest in alternatives to dominant chains like Ethereum.&nbsp;
The blockchain's ascent, outpacing Bitcoin's TVL of $238.75 million, may signal an upcoming reshuffling of the DeFi hierarchy.
Amid this flurry of investment activity, ADA's price has remained relatively stable, with a minor 24-hour decrease of 2.5%. It is now trading at $0.344298. The cryptocurrency's market cap stands robustly at $12 billion.

Cardano's ADA Sees Massive Accumulation by Large Whales

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