Cardano (ADA) Network Sees Uptick in New Whales Since March

The number of whale wallets on the Cardano network has surged by 1.7% in the last eight days on-chain data reveals. Cardano Network Sees New Whale Wallets Crypto technical analyst, Ali Martinez, citing a chart from on-chain data aggregator Santiment highlighted that roughly 42 addresses holding 1 million to 10 million ADA worth about $1.2 million and $12 million were created since March 21. The increase of whale addresses also led to a surge of 1.7% since March 21. “The uptick may seem insignificant at first glance, but these whales hold between $1.2 million and $12 million in ADA,” Ali wrote in his tweet. The number of whales on the #Cardano network has increased by 1.7%. Roughly 42 addresses holding 1,000,000 to 10,000,000 $ADA were created since Mar. 21. The uptick may seem insignificant at first glance, but these whales hold between $1.2 million and $12 million in #ADA. pic.twitter.com/ELUsppKhCl — Ali Martinez (@ali_charts) March 29, 2022 A day earlier, crypto analytics platform IntoTheBlock revealed that the Cardano network is currently experiencing greater demand from institutions. Data shows that ADA transfers carrying more than $100,000 worth of ADA have increased 50 fold in 2022 alone. Infact, on March 28, a total of 69.09 billion ADA were transferred in these transactions, marking 99% of the overall ADA volume. @Cardano is experiencing increasing institutional demand The volume of on-chain transactions >$100k has in...