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The Daily Hodl

08/16/2023

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Number of Cardano Whale and Shark Wallets Surge to 16-Month High Despite Bear Market: Santiment - The Daily Hodl

Blockchain analytics platform Santiment says deep-pocketed investors are accumulating massive amounts of Cardano (ADA) despite a stalled crypto market. The analytics platform says that the number of wallets...

Number of Cardano Whale and Shark Wallets Surge to 16-Month High Despite Bear Market: Santiment - The Daily Hodl

Blockchain analytics platform Santiment says deep-pocketed investors are accumulating massive amounts of Cardano (ADA) despite a stalled crypto market.

The analytics platform says that the number of wallets holding 100,000 or more ADA tokens has surged to 25,294, an amount not seen since April 2022.

Santiment notes this increase in whale and shark wallets has materialized despite negative trader sentiment towards Cardano, which is down around 35% since it hit its 2023 top four months ago.

Image
Source: Santiment/X

ADA is trading for $0.28 at time of writing, down 2.8% in the last 24 hours.

Santiment also notices that other altcoin projects are experiencing unexpected trade volume increases.

“The pumps continue to come where many least expect. As Bitcoin has jumped back above $30,000 to start the week, assets like Solana, Pepe, Shiba Inu, and HarryPotterObamaSonic10Inu (yes, really) are surging. Keep track of each project’s volume here.”

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Source: Santiment/X

Santiment is also keeping an eye on GitHub development activity across blockchain projects and highlights how blockchain oracle network Chainlink (LINK) has re-entered the top five.

“Top 10 crypto assets by development activity: notable GitHub commits, past 30 days:

T1(tied in first) Polkadot DOT

T1 Kusama Network KSM

3 Cardano ADA

4 Hedera HBAR

5 Chainlink LINK

6 Internet Computer ICP

7 Status SNT

8 AptosLabs APT

9 Vega Protocol VEGA

10 Cosmos ATOM

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Source: Santiment/X

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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