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BCH $297.20 (4.00%)
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10% of Cardano Top Whales Holds 94% of ADA’s Total Circulating Supply

10% of Cardano Top Whales Holds 94% of ADA’s Total Circulating Supply Cardano News
  • 10% of Cardano top whales hold 94% of ADA’s total circulating supply.
  • Overall, the whales control 31 billion out of ADA’s 33.43 billion circulating coins.
  • This analysis is based on data from Finbold and Coin Metrics.

According to Finbold, 10% of Cardano top whales addresses are holding 94% of ADA’s total circulating supply in the market.

Roughly, the whales are controlling a threshold value of 31 billion out of ADA’s 33.43 billion circulating coins available, according to Coin Metrics. The statistics show that the number of ADA tokens stored in the whales’ addresses has grown constantly since this year.

Starting this year, the ADA tokens in each of the whales’ addresses have increased drastically to over 1 billion. This amount subtly represents an upsurge momentum of 3%. Moreover, the report showcased that instead of selling, the whales’ addresses are rather accumulating more ADA.

Without a doubt, accumulating more ADA at this crucial moment could lead to the rising development of the Cardano network. Additionally, another data from Santiment shows that Cardano, Polkadot (DOT), and Solana (SOL) ranked as the top 3 networks with a substantial development in 2021.

On one hand, this confirms how Cardano has been working hard on projects to come up with its own smart contract, and DeFi ecosystem of late. Hopefully, the whales’ activity on ADA could be a catalyst to bring something good to Cardano in the coming year.

Regardless of some bad language that has been used on ADA because of its bear market, the Cardano community strongly believes that ADA might be preparing silently for a bullish market in 2022.

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Karikari Daniel is a writer who follows the crypto industry closely. He loves fish stew and Real Madrid. He believes in cryptocurrency’s potential to transform the money landscape in his native country Ghana.