BNB Whale Archives - Times Tabloid https://timestabloid.com/tag/bnb-whale/ Cryptocurrency and Blockchain Tabs Fri, 11 Feb 2022 04:57:34 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://timestabloid.com/wp-content/uploads/2021/08/cropped-Times-Tabloid-Favicon-32x32.png BNB Whale Archives - Times Tabloid https://timestabloid.com/tag/bnb-whale/ 32 32 Binance (BNB) Whale Just Grabbed 5 Million ADA $5.9 Million: Details https://timestabloid.com/binance-bnb-whale-just-grabbed-5-million-ada-5-9-million-details/ Wed, 09 Feb 2022 13:39:38 +0000 https://timestabloid.com/?p=2860 According to WhaleStats, Cardano (ADA), the seventh-largest cryptocurrency by market cap, is making a comeback among the top 10 purchased digital tokens by Binance Smart Chain (BSC) whales. This comes after a top BNB whale bought a whopping 5 million ADA. Cardano (ADA) Buying Spree Begins? Going by the report, a whale ranking fifth among […]

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]]> According to WhaleStats, Cardano (ADA), the seventh-largest cryptocurrency by market cap, is making a comeback among the top 10 purchased digital tokens by Binance Smart Chain (BSC) whales. This comes after a top BNB whale bought a whopping 5 million ADA.

Cardano (ADA) Buying Spree Begins?

Going by the report, a whale ranking fifth among the top 1000 BNB whales recently bought 5 million ADA worth $5.9 million.

Read Also: New Version of Cardano Daedalus Wallet Comes With Great Features and Improvements

WhaleStats tweeted, “A BNB whale just bought 5,000,000 ADA ($5,950,000 USD). Ranked #5 on WhaleStats.”

Large holders of coins are often called whales. They usually take advantage of dip and consolidation periods to hodl the digital assets of their choice at a discount. So, the recent whopping purchase of Cardano (ADA) shows that the crypto seems to be seeing an increase in buying pressure among mid-term holders.

Read Also: CCRI Research: Cardano Consumes Least Amount of Electricity per Node of all PoS Projects

An IntoTheBlock’s data that contains Cardano holder’s composition by time held shows that only 7% of ADA holders have kept their tokens for more than a year, while 71% have held them between one and twelve months, and 22% held them for less than a month.

The data shows that Cardano (ADA) is majorly held by short and medium-term investors. This could serve as an indication that ADA has been under buying pressure from this group of investors.

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

Cardano (ADA) in the Market

The price of Cardano (ADA) extended its rebound from lows of $1.17 tested on 3rd February to highs of $1.26 on 8th February, where it hit a resistance.

At the time of filing this report, ADA is trading at $1.21, with a 2.4% price increase in the last 24 hours, according to CoinMarketCap. The price of the cryptocurrency remains relatively 60% down from its September 2021 all-time high of $3.10.

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