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According to recently published data, over the past month, hundreds of millions of Cardano’s native coin, ADA, have been moved over the past month.
Cryptocurrency trader and analyst Ali Martinez has shared a chart provided by the on-chain data aggregator Santiment to show that in March, large holders, known in the crypto space as whales, unloaded almost 200,000,000 ADA coins. They were wallets holding between one million and 10 million ADA.
The supply held by those wallets gradually declined along with the ADA price, as the chart shows — the coin went down from $0.808 to $0.637 and then made a small recovery to the $0.673 price level.
The community was clearly upset by whales selling such a large amount of ADA. They expressed their indignation in the comments under the tweet.
Alex DovbnyaCardano sees $63.3 million in monthly inflows
A report recently shared by CoinShares investment fund shows that crypto investor sentiment has made a substantial pivot as almost $200 million flowed into Bitcoin-based exchange-traded products. Mostly this was due to spot Bitcoin ETFs.
However, altcoins also saw inflows, though not as significant as the world’s flagship cryptocurrency did.
Cardano attracted $0.6 million last week, which totaled $63.3 million month-to-date. The year-to-date inflows stand at $70 million. Overall, exchange-traded products now hold $121.2 million of investments under management.
XRP surpassed ADA here, scooping up $4.8 million last week, which added up to $15 million month-to-date, $168.1 million year-to-date inflows and a total of $957 million held in XRP-based ETPs.
Solana and Ethereum surpassed all altcoins on this list, with $7.8 million and $15 million in inflows last week.
Cardano’s ADA is currently changing hands at $0.6792 per coin.
Vladislav Sopov
Dan Burgin