Ada Sharks is a Cardano based NFT project aimed at hitting that nostalgic kid in us all.   I’m a big kid at heart and love cartoons and movies myself.  I’m doing seasons of 100 each, 1000 total on top of special sharks and limited releases. Feel free to swing by my twitter or drop in and say hi in my discord.



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Ada Sharks

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 Cardano (ADA) has not exactly been the best performer in the last month. Instead, the altcoin’s price has continued to stall even during periods of market recovery.
However, this trend could change pretty soon given the current accumulation trend among sharks and whales, something that could take a significant chunk of available supply off the open market and trigger another rally.
<h2>Cardano Sharks And Whales Go To Market</h2>
In a Tuesday <a target="_blank" href="https://twitter.com/santimentfeed/status/1688789040815075328?s=20">post</a>, the on-chain data aggregator platform Santiment revealed an interesting development concerning the <a target="_blank" href="https://www.newsbtc.com/news/cardano/cardano-whales-sharks-accumulated-406m-ada/">ADA sharks and whales</a>. The sharks and whales in this instance refer to wallets holding at least 100,000 ADA and at most 10 million ADA.
What Santiment has found is that this 100,000-10 million cohort has been consistently adding to their balances. The accumulation first began a little over two months ago on May 21, and since then, they have collectively bought over $116.1 million worth of ADA.
<img src="https://www.newsbtc.com/wp-content/uploads/2023/08/Cardano-ADA.jpeg?w=460&amp;resize=460%2C298" alt="Cardano (ADA)" srcset="https://www.newsbtc.com/wp-content/uploads/2023/08/Cardano-ADA.jpeg?w=2778 2778w, https://www.newsbtc.com/wp-content/uploads/2023/08/Cardano-ADA.jpeg?w=460&amp;resize=460%2C298 460w, https://www.newsbtc.com/wp-content/uploads/2023/08/Cardano-ADA.jpeg?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2023/08/Cardano-ADA.jpeg?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2023/08/Cardano-ADA.jpeg?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2023/08/Cardano-ADA.jpeg?w=2048 2048w, https://www.newsbtc.com/wp-content/uploads/2023/08/Cardano-ADA.jpeg?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2023/08/Cardano-ADA.jpeg?w=1140 1140w" />
<pre>Sharks and whales accumulate $116.1 million worth of ADA | Source: <a target="_blank" href="https://twitter.com/santimentfeed/status/1688789040815075328?s=20">Santiment on X</a></pre>
This buying spree also saw their trading volume rise significantly during this time as well. As the on-chain tracker revealed, the sharks and whales saw their cumulative volume cross 67 billion ADA toward the end of July.
As a result of their consistent buying, <a target="_blank" href="https://www.newsbtc.com/analysis/ltc/litecoin-sharks-buy-more-200000-ltc/">sharks and whales</a> now account for 34.4% of the total circulating ADA supply. The last time that their holdings were this high was back in 2022, before the FTX collapse. Additionally, their cumulative trading volume is now sitting at its highest level since September 2021.
<h2>Will ADA Respond Positively?</h2>
In the last two months in which the Cardano sharks and whales have been active, <a target="_blank" href="https://www.newsbtc.com/all/can-the-cardano-mithril-protocol-propel-ada-to-1-this-year/">ADA has seen some encouraging price action</a>. In July, its price jumped from below $0.3 to a local high of $0.37. But ultimately, the altcoin corrected back downward, losing a little over 20% of its value.
Since then, <a target="_blank" href="https://www.newsbtc.com/news/cardano/cardano-ada-price-remains-muted-despite-significant-milestones-why/">the digital asset has continuously struggled</a> to maintain $0.29, with bears having more good days compared to bulls. However, there could be a change in the horizon given that investor sentiment seems to have skewed in favor of buying instead of selling.
What this means is that the mounting buying pressure could quickly see the <a target="_blank" href="https://www.newsbtc.com/news/cardano-tvl-a-crucial-factor-for-ada-price-revival/">price of ADA recover</a> as demand grows. So it may not be long before ADA is retesting the $0.35 resistance again. And if this rally happens to coincide with a recovery in the price of Bitcoin (BTC), then it could beat its recent local peak of $0.37 and rally above $0.4.
For this to happen, though, the bulls would have to maintain control and the 6% jump in the altcoin’s daily trading volume in the last day could be evidence of this.
At the time of writing, ADA is trailing at $0.2991, up 2.93% on the daily chart. However, the asset is seeing 2.33% losses on the weekly chart.
<img src="https://www.tradingview.com/x/Dw2lYrZE/" alt="Cardano (ADA) price chart from Tradingview.com" />
<pre>Cardano bulls continue to struggle to raise price | Source <a target="_blank" href="http://tradingview.com/">ADAUSD on Tradingview.com</a></pre>
<a target="_blank" href="https://twitter.com/BestOwie">Follow Best Owie on Twitter</a> for market insights, updates, and the occasional funny tweet… Featured image from iStock, chart from TradingView.com
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cryptonewsbtc

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Cardano (ADA) Next In Line For A Rally Following Shark And Whale Buying Spree

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						 <ul>
<li>ADA’s on-chain transaction volume increased continually for six months.</li>
<li>Traders were bullish on price action.</li>
</ul>
Oftentimes, cryptocurrencies are characterized by the influence of large holders, whose actions can sway market sentiment and dictate price movements. However, the impact of these actions may not be immediate at first glance, as with <a href="https://ambcrypto.com/search/cardano" target="_blank">Cardano [ADA]</a>, which was ranked eighth on the market cap standings at press time.
<hr />
Read <a href="https://ambcrypto.com/predictions/cardano-price-prediction" target="_blank">Cardano’s [ADA] Price Prediction</a> 2023-2024
<hr />
<h4>Back to the crest</h4>
According to on-chain analytics platform Santiment, ADA sharks and whales, who hold between 100,000 – 10 million tokens, have been accumulating. As a result, total accumulation has reached the peak registered in September 2022.
This accumulation by the cohort, which represented 34.02% of the total ADA supply, also ensured that on-chain transaction volume has been rising since February.
<blockquote>
🐳🧐 As <a href="https://twitter.com/hashtag/Cardano?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank">#Cardano</a> sits just above $0.29, whales and sharks holding between 100K-10M <a href="https://twitter.com/search?q=%24ADA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank">$ADA</a> have accumulated back to their highest level since September, 2022. Additionally, <a href="https://twitter.com/hashtag/onchain?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank">#onchain</a> transaction volume has been rising nearly every week for the past 6 months. <a href="https://t.co/x9mUHDIhnx" target="_blank">https://t.co/x9mUHDIhnx</a> <a href="https://t.co/X9WphDpPvy" target="_blank">pic.twitter.com/X9WphDpPvy</a>
— Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1688789040815075328?ref_src=twsrc%5Etfw" target="_blank">August 8, 2023</a></blockquote>
On-chain volume refers to the total amount of assets via a blockchain network and is not necessarily traded. At press time, ADA’s on-chain transaction volume was 49.69 billion— an incredible rise from 16.18 billion on 3 February.
Whale accumulation alongside a spike in on-chain volume tends to suggest that an asset will recover sooner or later. But ADA had not succumbed to this notion. This was because its <a href="https://ambcrypto.com/cardano-bulls-defend-the-0-3-support-should-you-look-to-buy-now/" target="_blank">closing price</a> when accumulation began was much higher than the press time value.
At the trench of whale accumulation, ADA’s value was $0.39. But at the time of writing, it was $0.29. Well, this drop could be linked to massive profit-taking. Needless to say, ADA had an extended uptick period from March to April and June to July.
<h4>ADA: Bullish bias appears</h4>
While ADA’s weighted sentiment was not as high as it was when the price was $0.39, on-chain data showed that it had improved in the last 30 days. Intuitively, the weighted sentiment spikes when the average social commentary is positive. The metric also falls when the acumen is gloomy.
Therefore, the <a href="https://app.santiment.net/charts/8wH0QAia__sCl" target="_blank">hike in the metric</a> means that the perception toward ADA has improved. But what expectations do traders have for the price?
Well, to address this, the funding rate comes into play because it can tell when the sentiment is bearish or otherwise. At the time of writing, ADA’s funding rate was 0.006%.
<div><a target="_blank" href="https://statics.ambcrypto.com/wp-content/uploads/2023/08/Cardano-ADA-07.57.19-08-Aug-2023.png"><img src="https://statics.ambcrypto.com/wp-content/uploads/2023/08/Cardano-ADA-07.57.19-08-Aug-2023.png" alt="Cardano [ADA] funding rate and weighted sentiment" srcset="https://statics.ambcrypto.com/wp-content/uploads/2023/08/Cardano-ADA-07.57.19-08-Aug-2023.png 2560w, https://statics.ambcrypto.com/wp-content/uploads/2023/08/Cardano-ADA-07.57.19-08-Aug-2023-300x102.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2023/08/Cardano-ADA-07.57.19-08-Aug-2023-1024x347.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2023/08/Cardano-ADA-07.57.19-08-Aug-2023-768x260.png 768w, https://statics.ambcrypto.com/wp-content/uploads/2023/08/Cardano-ADA-07.57.19-08-Aug-2023-1536x520.png 1536w, https://statics.ambcrypto.com/wp-content/uploads/2023/08/Cardano-ADA-07.57.19-08-Aug-2023-2048x693.png 2048w" /></a>Source: Santiment</div>
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Is your portfolio green? Check out the <a href="https://ambcrypto.com/calculator/cardano-profit-calculator" target="_blank">ADA Profit Calculator</a>
<hr />
Since the metric was in the positive region, it implies that long-positioned traders were willing to pay shorts to keep their contracts open. So, there were more open longs overriding shorts contracts, and the broader sentiment was bullish.
However, when ADA will begin its <a href="https://ambcrypto.com/cardano-cracks-0-3-support-can-shorting-yield-gains/" target="_blank">recovery</a> back to $0.39 is widely unknown. But if this sort of accumulation continues, then it’s only a matter of time before the token rises above $0.3.
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AMBCrypto

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Sharks and whales put Cardano on the map: Is a rally forthcoming?

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Cardano has declined by 5% during the past week, but on-chain data show that large investors have only continued to buy more.
<h2>Cardano Sharks &amp; Whales Now Hold Highest Amount Since September 2022</h2>
According to data from the on-chain analytics firm <a href="https://twitter.com/santimentfeed/status/1688789040815075328/photo/1" target="_blank">Santiment</a>, the ADA sharks and whales have continued to accumulate more of the cryptocurrency recently. The relevant indicator here is the “<a href="https://bitcoinist.com/litecoin-mega-whales-15-4-supply-highest-june-2017/" target="_blank">Supply Distribution</a>,” which keeps track of the total percentage of the supply that each investor group in the market is holding currently.
Related Reading: <a href="https://bitcoinist.com/litecoin-hashrate-ath-despite-miner-rewards-halved/" target="_blank">Litecoin Hashrate Nears ATH Despite Miner Rewards Being Halved</a>
The investors are divided into these cohorts based on the total number of coins that they are carrying in their wallets right now. The 10-100 coins group, for example, includes all wallets or holders who own at least 10 and at most 100 ADA.
Here, the groups of interest are the “sharks” and the “whales.” The investors belonging to these cohorts are some of the largest in the sector and their combined coin range can be defined as 100,000 to 10 million coins.
As these investors have such large holdings, they can potentially move around numbers that may cause visible fluctuations in the market. Due to this reason, it’s often a good idea to keep an eye on what these humongous holders are doing right now.
The below chart shows the trend in the Cardano Supply Distribution for these sharks and whales over the past year.
<img src="https://pbs.twimg.com/media/F2_G43ibMAEHkjK?format=jpg&amp;name=4096x4096" alt="Cardano Sharks &amp; Whales" />
<pre>Looks like the value of the metric has been climbing in recent days | Source: <a href="https://twitter.com/santimentfeed/status/1688789040815075328/photo/1" target="_blank">Santiment on Twitter</a></pre>
As displayed in the above graph, the percentage of the Cardano supply held by the sharks and whales has been steadily going up during the last couple of months. This implies that these investors have constantly been adding more tokens to their wallets.
These holders had first ramped up their <a href="https://bitcoinist.com/stablecoin-shark-whales-strong-accumulation-bitcoin/" target="_blank">accumulation</a> after the cryptocurrency had observed a sharp plunge back in June, and they had continued to do so until the asset had seen a rapid surge in July.
In this rally, they had participated in some selling, but the scale wasn’t anything too extraordinary, and without too much wait, these large investors had gone back to buying again, erasing the hit that their supplies had taken in this selloff.
The Cardano price has only gone downhill since then, but these holders haven’t shown any signs of stopping their accumulation. In total, since they started this accumulation spree, they have added a notable $116.1 million to their holdings, which has taken their share of the total circulating supply to 34.04%.
The current level of their holdings is the highest it has been since back in September 2022, almost one year ago now. Naturally, such buying from the sharks and whales is a positive sign for the asset, as it shows that these investors continue to hold a bullish view on Cardano, regardless of how recent price action may have gone.
In the chart, Santiment has also attached the data for another indicator: the <a href="https://bitcoinist.com/dogecoin-trading-volume-16-week-high-doge-jumps-9/" target="_blank">trading volume</a>. This indicator has also been at pretty high levels recently, implying that investors have an active interest in trading the asset right now.
<h2>ADA Price</h2>
At the time of writing, Cardano is trading around $0.29, down 5% in the last week.
<img src="https://www.tradingview.com/x/EHFnoniy/" alt="Cardano Price Chart" />
<pre>ADA has gone down during the last few weeks | Source: <a href="https://www.tradingview.com/chart/qFC1kfFd/" target="_blank">ADAUSD on TradingView</a></pre>
Featured image from iStock.com, charts from TradingView.com, Santiment.net
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Bitcoinist

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Cardano Slips Down 5%, But Sharks & Whales Continue To Buy

<ul><li>Holders of 10,000 to 100,000 ADA coins have increased their holdings.</li><li>Whale holdings, however, have dropped in the last year.</li><li>Cardano saw on-chain growth this year despite the downtrend.&nbsp;</li></ul>Despite the persistent decline in <a href="https://ambcrypto.com/predictions/cardano-price-prediction">Cardano’s [ADA]</a> price in the last few months, holders of 10,000 to 100,000 ADA coins intensified coin accumulation to hold their largest percentage of ADA’s supply since June 2021, data from <a href="https://twitter.com/santimentfeed/status/1605996855858384896?s=46&amp;t=CTnBWK2cinnL5u7n3WHxng">Santiment</a> revealed.&nbsp;Data from the on-chain analytics platform showed that this cohort of key ADA holders, commonly referred to as sharks, have been accumulating the altcoin steadily since June.&nbsp;<hr>Read&nbsp;<a href="https://ambcrypto.com/predictions/cardano-price-prediction">Cardano’s [ADA] Price Prediction</a>&nbsp;2023-24<hr>While FTX’s unexpected collapse plunged many crypto assets, including ADA, to severe lows, these sharks remained undeterred and added ADA coins worth $83 million to their investment portfolios since 7 November.&nbsp;As of this press, holders of 10,000 to 100,000 ADA coins held 11.61% of the coin’s total supply. This meant that they held a cumulative of 4,096,661,348 ADA coins of the total supply of 35,285,627,462.&nbsp;While ADA sharks ramped up accumulation in the past few months, whale addresses that hold between 100,000 to 10,000,000 ADA coins steadily let go of their holdings in the last year.Per data from <a href="https://app.santiment.net/charts/ELTMPPpH__sCl">Santiment</a>, this category of ADA holders held 33.5% of ADA’s total supply at press time. They controlled almost 50% of the coin’s total supply a year ago.&nbsp;<a href="https://ambcrypto.com/wp-content/uploads/2022/12/Cardano-ADA-09.22.35-23-Dec-2022.png"><img src="https://i0.wp.com/ambcrypto.com/wp-content/uploads/2022/12/Cardano-ADA-09.22.35-23-Dec-2022.png" alt="ADA Supply distribution" srcset="https://i0.wp.com/ambcrypto.com/wp-content/uploads/2022/12/Cardano-ADA-09.22.35-23-Dec-2022.png 2560w, https://ambcrypto.com/wp-content/uploads/2022/12/Cardano-ADA-09.22.35-23-Dec-2022-300x102.png 300w, https://ambcrypto.com/wp-content/uploads/2022/12/Cardano-ADA-09.22.35-23-Dec-2022-1024x347.png 1024w, https://ambcrypto.com/wp-content/uploads/2022/12/Cardano-ADA-09.22.35-23-Dec-2022-768x260.png 768w, https://ambcrypto.com/wp-content/uploads/2022/12/Cardano-ADA-09.22.35-23-Dec-2022-1536x520.png 1536w, https://ambcrypto.com/wp-content/uploads/2022/12/Cardano-ADA-09.22.35-23-Dec-2022-2048x693.png 2048w" sizes="100vw"></a>Source: SantimentIt is common knowledge that increased whale accumulation is a major contributory factor to an asset’s price growth. However, with ADA whales dumping their holdings in the last year, ADA’s value has dropped by 83% since December 2021.&nbsp;<hr>A 33.54x hike on the cards <a href="https://ambcrypto.com/calculator/marketcap">if ADA hits Bitcoin’s market cap?</a><hr><h3>Ups and downs for Cardano</h3>With the year so far marked by a severe decline in the value of the general cryptocurrency market, the Cardano network saw some on-chain growth on a year-over-year (YOY) basisAccording to <a href="https://twitter.com/Cardano_CF/status/1605613794897666051?s=20&amp;t=9zPnmfBdOqbskEbDSlehaA">Cardano Foundation</a>, the network saw a 139% rally in the count of transactions completed on it. With 3.80 million active wallet addresses created on Cardano in the last year, the network saw its wallet count jump by 47%. Likewise, the count of native tokens on the Layer 1 network went up by 192%.&nbsp;<a href="https://ambcrypto.com/wp-content/uploads/2022/12/FkcV8FZakAUHQwq.jpeg"><img src="https://i2.wp.com/ambcrypto.com/wp-content/uploads/2022/12/FkcV8FZakAUHQwq.jpeg" alt="" srcset="https://i2.wp.com/ambcrypto.com/wp-content/uploads/2022/12/FkcV8FZakAUHQwq.jpeg 1080w, https://ambcrypto.com/wp-content/uploads/2022/12/FkcV8FZakAUHQwq-300x300.jpeg 300w, https://ambcrypto.com/wp-content/uploads/2022/12/FkcV8FZakAUHQwq-1024x1024.jpeg 1024w, https://ambcrypto.com/wp-content/uploads/2022/12/FkcV8FZakAUHQwq-150x150.jpeg 150w, https://ambcrypto.com/wp-content/uploads/2022/12/FkcV8FZakAUHQwq-768x768.jpeg 768w, https://ambcrypto.com/wp-content/uploads/2022/12/FkcV8FZakAUHQwq-80x80.jpeg 80w" sizes="100vw"></a>Source: Cardano FoundationDespite the on-chain growth in the last year, the decentralized finance (DeFi) ecosystem on Cardano suffered a decline. Per data from <a href="https://defillama.com/chain/Cardano?currency=USD">DefiLlama</a>, after the total value locked (TVL) of DeFi protocols housed within Cardano peaked at $326 million in March, it has since declined significantly to be pegged at $52.99 million at press time.<a href="https://ambcrypto.com/wp-content/uploads/2022/12/Screenshot-2022-12-23-at-09.35.33.png"><img src="https://i2.wp.com/ambcrypto.com/wp-content/uploads/2022/12/Screenshot-2022-12-23-at-09.35.33.png" alt="" srcset="https://i2.wp.com/ambcrypto.com/wp-content/uploads/2022/12/Screenshot-2022-12-23-at-09.35.33.png 1598w, https://ambcrypto.com/wp-content/uploads/2022/12/Screenshot-2022-12-23-at-09.35.33-300x143.png 300w, https://ambcrypto.com/wp-content/uploads/2022/12/Screenshot-2022-12-23-at-09.35.33-1024x490.png 1024w, https://ambcrypto.com/wp-content/uploads/2022/12/Screenshot-2022-12-23-at-09.35.33-768x367.png 768w, https://ambcrypto.com/wp-content/uploads/2022/12/Screenshot-2022-12-23-at-09.35.33-1536x734.png 1536w" sizes="100vw"></a>Source: DefiLlamaSource: https://ambcrypto.com/cardano-sharks-intensify-accumulation-but-will-it-help-ada-this-time/

Ada Sharks ($)

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