The number of large ADA token holders reached a record high

According to the analytical company Santiment, 46,6% of the total number of tokens are owned by large investors

12.04.2022 - 14:05

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What’s new? The number of large Cardano token (ADA) holders has reached a 2-year high. Large investors, whose wallet balance is at least 10 million ADA, hold 46,6% of the total number of tokens. The analytical company Santiment has published a relevant chart on Twitter.

Source: Twitter.com

What does the chart indicate? It shows a dramatic increase in the share of ADA held by large investors. By comparison, less than 14 months ago, they had just 10,2% of the total supply in their wallets. The analysts at Santiment note that a large portion of the addresses marked on the chart belongs to cryptocurrency exchanges.

What had happened before? At the end of March, the volume of transfers on the Cardano network increased dramatically, according to analytics firm IntoTheBlock. The analysts believe that this may indicate a massive purchase of ADA tokens by institutional investors. In 2022, the number of ADA’s token transactions over $100 000 increased by 50 times.

In April, the Cardano network crossed a new milestone of more than 5 million addresses functioning on the network. An increase in the number of users correlates with an increase in the number of decentralized applications and solutions on the network.

As of April 12, ADA is trading at $0,963673. The daily trading volume of altcoin is $1,1 billion and the market capitalization is $30,9 billion, according to CoinGecko.

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