Number of Cardano Whales Has Surged Roughly 15,000% since Mid-December 2021

According to the data from the crypto analytics firm Santiment, which was reported by a prominent crypto analyst, Ali Martinez, the number of Cardano addresses with a balance between 10,000 to 1,000,000 ADA has surged by relatively 15,000% since mid-December 2021.

Ali Martinez tweeted, “Everybody and their mothers are buying Cardano! Data from Santiment shows that the number of addresses with 10,000 to 1,000,000 ADA skyrocketed by 15,000% since mid-December 2021. Roughly 3,900 wallets with 10,000 to 1,000,000 ADA have joined the network since then.”

Moreover, the number of Cardano (ADA) wallets is about to reach a milestone as reported by a Cardano enthusiast, Pieter Nierop, who believes that the number of ADA wallets will break the three million mark within the next two days.

Pieter Nierop wrote, “Two more days…… And we hit 3.000.000 wallets.”

Also, the Cardano-based decentralized exchange SundaeSwap, the first of its kind to launch on Cardano, has marked a week of operation. As stated in a recent update, within these few days, the DEX has managed to record a $71.69 million total value locked (TVL) and over 300 active trading pools.

Cardano’s Massive Demand May Prevent ADA from Dipping Lower

In another tweet on 1st February, Ali Martinez stated that Cardano’s massive demand has the potential to prevent the price of ADA from dipping lower.

According to Martinez, Intotheblock’s IOMAP shows that 341,500 addresses purchased 7.65 billion ADA at an average price of $1, which is a bullish signal for the cryptocurrency.

Captioning an illustrative chart, Ali Martinez wrote, “Cardano found stable support! Intotheblock’s IOMAP shows that 341,500 addresses had previously purchased 7.65 billion ADA at an average price of $1. Such a massive demand wall may have the strength to prevent ADA from dipping lower.”

At the time of filing this report, Cardano (ADA) is trading at $1.06, with a 2.37% price uptrend in the last 24 hours.

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Tobi Loba

Tobi Loba is a passionate writer with a vast interest in the stock market. She joined the crypto ecosystem about three years ago and has written lots of ebooks and articles in relation to cryptocurrency and blockchain projects. Tobi Loba earned her degree at the University of Ibadan.