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Cardano Whales Accumulate 560 Million ADA in Just Two Weeks: Details

Mon, 04/10/2023 - 10:55
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Tomiwabold Olajide
Cardano whales seem to be on radical move to accumulate ADA at discount
Cardano Whales Accumulate 560 Million ADA in Just Two Weeks: Details
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According to information shared by crypto analyst Ali, Cardano whales seem to be making radical moves. Whales, or large holders, are typically known to utilize periods of dips or consolidation to accumulate crypto assets at a discount, and this seems to be holding for Cardano whales.

According to IntoTheBlock data shared by Ali, Cardano whales or large holders have scooped up 560 million ADA worth $218.4 million in the past two weeks.

On April 3, Ali made a specific categorization as he reported that Cardano whales holding 1 million to 10 million ADA had bought nearly 150 million ADA worth $57 million since February.

At the time of writing, ADA was marginally up in the last 24 hours to $0.388. While ADA's price consolidates, Ali believes ADA has the potential to move to $0.60 if a textbook head and shoulders pattern on its daily chart is validated.

Cardano IOG teases upcoming releases and announcements

In its most recent weekly report, Cardano builder Input Output Global (IOG) discloses the latest progress and milestones the blockchain has undergone.

The Cardano ledger team is teasing the Conway release. The Hydra team also continued work on Hydra node mainnet compatibility, preparing for a release.

According to the report, the Mithril team worked on new network architecture in preparation for a release.

The Cardano community participated in a workshop to review CIP-1694 output, with a keynote from Charles Hoskinson, breakout sessions and a summary of key takeaways. IOG says that community workshop sponsorships will be announced later in April.

Cardano: What Happened in 2022? IOG Shares Highlights of Landmark Year

The current network statistics are: 1,221 projects are currently building on Cardano, while 122 have already launched. A total of 64.2 million transactions have been processed on the network. Cardano native tokens stand at 8.09 million, spread across 71,386 minting policies. There are now 7,597 Plutus scripts, of which 2,353 are Plutus v2 scripts.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.