A leading analytics firm says Cardano-rich investors have loaded up on ADA and bought a lot of the dip since the high-profile FTX implosion.
Santiment says addresses with a balance of 10,000 to 100,000 Cardano hold the largest share of the supply, worth 4 billion ADA tokens in a year and a half.
“Significant Cardano sharks have been accumulating steadily since June. And they have taken this level of dip buying to new levels since the FTX fallout in early November. Addresses holding between 10,000 and 100,000 ADA are , added $83 million worth of coins since November 7.”
At the time of writing, Cardano is trading at $0.257, a slight drop for the day.
Turning to Bitcoin, Santiment reveals that the amount of BTC held on centralized cryptocurrency exchanges is currently at an all-time high. According to Santiment, cryptocurrency exchanges have seen $304 billion worth of his BTC seep off the platform.
“What is being described is a 10-year long-term view of Bitcoin funds moving in and out of exchanges. doing.”
According to the crypto tracking website coin geckothe circulating supply of Bitcoin was 19.24 million BTC, indicating that more than 94.5% of Kingcrypt’s supply was withdrawn from digital asset exchanges.
At the time of writing, Bitcoin is trading at $16,847, flat on the day.
Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should exercise caution before making risky investments in Bitcoin, cryptocurrencies or digital assets. Please note that your money transfers and transactions are made at your own risk and you are responsible for any losses you may incur. The Daily Hodl does not endorse the buying or selling of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Digital Storm