Advertisement
AD

Main navigation

Cardano Millionaire Whales Have Increased Holdings by 40% in January: Details

Advertisement
Wed, 2/02/2022 - 9:54
Cardano Millionaire Whales Have Increased Holdings by 40% in January: Details
Cover image via stock.adobe.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

On-chain analytics firm IntoTheBlock notes that Cardano millionaire addresses are actively accumulating despite the flat price action seen for ADA recently. ADA is engaging in sideways trading after dipping to lows of $0.92 on Jan. 22. At the time of publication, ADA was changing hands at $1.06.

Advertisement

IntoTheBlock notes that the balance held by addresses with 1-10 million ADA has increased by 40.65% in just the first month of 2022. It states that these addresses now collectively hold 24.87% of the circulating supply, which is presently 33.57 billion ADA.

ADA seems to be seeing accumulation from different tiers of whales. U.Today reported that Cardano addresses with a balance between 10,000 and 1,000,000 ADA have increased by a staggering 15,000% since mid-December 2021. This category of investors more than doubled their holdings by accumulating $53.6 million in tokens in late January.

Advertisement

Further network adjustments incoming

Following the recent parameter updates announced by Cardano, Tim Harrison, IOHK Marketing & Communications Director, says further network adjustments might come in before the weekend.

IOHK notes that Cardano will continue to be steadily optimized in a series of measured steps, carefully scaling Cardano for future growth as demand increases. The changes introduced by the release of node 1.33.0 in early January permitted changes to some network parameters, including block size and memory units. IOHK recently announced that the blockchain's block size is on track to increase by 11% as part of its network optimization efforts.

The total block size will grow to 80 KB from the current size of 72 KB, implying that Cardano's blocks may now be able to carry more transactions. Pipelining, an improvement to the consensus layer that facilitates faster block propagation, is also one of the key scaling improvements to be deployed in 2022.

Related articles

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement
Advertisement

Recommended articles

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD