Cardano users ADA-pt to price falls with whales holding 46.6% of the supply
At the time of writing, the top 50 cryptos – with the exception of Monero [XMR] – turned red and market sentiments were in flux as Bitcoin slipped under $40,000 before recovering slightly once more. Even among the top 10, there was some chaos as Solana [SOL] fell to seventh place by market cap ranking while XRP took over sixth place.
A level below them, however, Cardano [ADA] was changing hands at $0.9435 after falling by 7.68% in the last day and decreasing in value by 21.73% over the past week. A dismal report card for bulls, yes. However, a much larger animal is on the move, and traders are advised to take a look.
Data from Santiment showed that while ADA was a long way down from its all-time high, Cardano whales with more than 10 million ADA – some of them crypto exchanges – were holding approximately 46.6% of the supply. This is a very different picture from slightly over a year ago when these whales owned just above 10% of the supply.
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