Cardano investors with $100 to $100,000 in ADA hits record

The price of cardano (ADA) suddenly made a nice jump this morning while the rest of the cryptocurrency market mainly moves sideways. The ADA price has been in a significant downward trend for almost seven months. Now that the prices of many cryptos are finally rising again, confidence that ADA has bottomed is also increasing.

Small and Medium ADA Investors Accumulate

That’s because ADA investors are still accumulating. As with bitcoin (BTC), despite the downtrend, ADA’s accumulation has continued in recent times. At least among the smaller and medium-sized wallet addresses, analysis company Santiment reports on April 4.

According to Santiment, small addresses continue to grow, although together they still only hold 0.128% of the supply. The number of medium-sized addresses has meanwhile increased all time high reached 16.8% of the total supply. Those are the addresses with $100 to $100,000 worth of ADA in possession.

The number of ADA whales, addresses with more than $100,000 in ADA, is declining. Yet they still own no less than 83.1% of the total. Although this is a all time low possessions are therefore still the vast majority of ADA in circulation.

#cardano jumped back above $1.22, and supply is moving out of $100k+ $ADA address. The low-mid and high-mid tiers are the group accumulating consistently, and these 100 to 100k $ADA holders now own theirs #AllTimeHigh or 16.8% of the available supply https://t.co/P8e6ibGFD8 pic.twitter.com/0GDiIXwEz5

— Santiment (@santimentfeed) April 4, 2022

This trend shift is therefore seen as a possible positive development. It means that ADA may gradually become less centralized. That should give the price a firmer footing and make it less sensitive to manipulation by whales.

Cardano whales buy big

Yet another analysis company recently came out, namely IntoTheBlock, that the whales may also buy ADA in 2022. At the time, however, IntoTheBlock mainly looked at transaction volume and perhaps not so much at the direction of traffic. Yet that could mean that whales also accumulate ADA, only relatively less quickly.

In any case, investor confidence in Cardano appears to be picking up cautiously after the long downtrend. Whether there is enough momentum now to break out further remains to be seen. Like last week and in February, ADA still struggled with the $1.22 and $1.23 areas this morning. This morning, ADA was rejected again here and is currently falling to $1.20. Nevertheless, ADA is still 3.5% in the plus today.