Santiment: large investors accumulate $138 million worth of ADA tokens

Jointly, they own 0,46% of the total issue of the asset

07.08.2022 - 07:00

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What’s new? By August, Cardano’s large investors (addresses holding between 10 000 and 10 million ADA) had accumulated tokens totaling $138 million, according to analytics firm Santiment. Whales began buying the asset in early June, but made their biggest purchases in the middle of the month, a week after the ADA price began to drop. In total, institutions own 0,46% of the coin’s total issue. Analysts noted that these are not very significant numbers at the moment, but in August the situation “could get interesting” if the trend continues. ADA is trading at $0,51 as of August 6, 12:00 UTC, having gained 0,8% per day, according to Binance.

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More details about Cardano. The community of the blockchain is currently awaiting the release of the Vasil Hard Fork Combinator (HFC), which has once again been delayed. The hard fork date was originally set for the end of June and later moved to the last week of July, now the release of the upgrade is expected in mid-August.

The network’s founder Charles Hoskinson assured users that the upgrade is currently in the final stages of testing and would not be delayed any longer. He noted that the team’s main priority is to fix bugs to ensure security.

The Vasil hard fork is intended to increase the scalability of the blockchain and accelerate the creation of blocks. The upgrade will also optimize the Verifiable Random Function (VRF), Ouroboros, and increase the network’s throughput, which will improve its performance. In addition, it will provide interoperability between Cardano sidechains, which is one of the main features that the team intends to launch in the current phase of blockchain development.

Cardano is a blockchain platform created by Input Output Hong Kong (IOHK) and Ethereum co-founder Charles Hoskinson in 2017. Cardano supports smart contracts and also has the native token ADA that enables users to participate in the operation of the network.

For more details on Cardano, see GetBlock Magazine’s article.

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