Cardano whales, or those holding large amounts of the cryptocurrency ADA, have been accumulating more tokens in recent times. This has led to speculation that they may be expecting something big in the near future. It is thought that these whales are anticipating a surge in the value of ADA, and as such, have been stockpiling tokens in order to make a larger profit when this surge occurs.
Since November 2022, Cardano whales have been actively acquiring the Ethereum-killer altcoin, as indicated by a recent surge in holdings of addresses that possess 10,000 ADA or more, according to crypto intelligence tracker Santiment.
However, this accumulation of Cardano tokens has been occurring on a consistent basis, and demonstrates that the whales are confident in the potential of the cryptocurrency. With such strong purchasing power behind it, Cardano could become a major player in the crypto space in the near future.
The ADA accumulation rate of cardano whales continues to rise
Cardano whales, a select group of high net-worth investors, have continued to amass large quantities of the native token ADA. This steady accumulation of the cryptocurrency has been ongoing for some time now, with the whales seemingly undeterred by the volatility of the crypto market.
They appear to be confident in their long-term investment strategy and are taking advantage of any dips in ADA’s price to add more tokens to their already sizable portfolios. This recent influx of capital has had a positive effect on the token’s overall value and has helped it remain relatively stable over time.
Additionally, some believe that Cardano whales are expecting the introduction of new features and improvements to the Cardano platform that could further drive up demand for ADA tokens. Whatever their reasons for accumulating ADA tokens may be, it is clear that Cardano whales are confident that the value of ADA will continue to increase in the near future.
