Cardano Whales Have Purchased More Than 4 Billion ADA In 2022

Crypto whales in the Cardano ecosystem have continued their ADA accumulation since the start of 2022, according to the recent data provided by IntoTheBlock.

IntoTheBlock revealed that Cardano addresses holding between 1 million and 10 million ADA have grown massively this year.

The data shows that the number of ADA held in these addresses has grown massively from 8.09 billion to 12.19 billion since the beginning of the year. This implies that the addresses in this category have accumulated more than 4 billion ADA year-to-date.

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The analytic platform also disclosed that the number of ADA held in these addresses attained an all-time high of 12.47 billion on 1st March 2022, indicating the massive growth of the Cardano network in less than three months into 2022.

IntoTheBlock tweeted, “Accumulation continues. The balance held by addresses with 1m-10m $ADA has grown exponentially in 2022, from 8.09b to 12.19b ADA. On March 1 it reached a new ATH of 12.47b ADA held by these addresses.”

Similarly, Ali Martinez, a popular crypto analyst, shared the data from sentiment confirming that Cardano whales are on an ADA buying spree.

According to the data from Santiment shared by Martinez, Cardano addresses holding between 100,000 and 1 million ADA accumulated a large number of tokens within 24 hours about three days ago, which indicates that whales are taking advantage of a price dip.

Read Also: Cardano Transaction Volume Skyrockets to Double That of Ethereum As ADA Blockchain Expands

Ali Martinez tweeted, “Cardano | On-chain data from @santimentfeed shows that the number of addresses holding 100K to 1M ADA have scooped up more than 16,000,000 ADA in the last 24 hours.”

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