Cardano Whale Investors Accumulate Nearly 80 Million ADA

Cardano Whale Investors Accumulate Nearly 80 Million ADA in One Month

Recent data from an on-chain cryptocurrency analytics service provider reveals that major Cardano investors, notably those who possess addresses between 10,000 - 100,000 ADA, have lately increased their portfolio size.

According to sources, addresses in this category increased their individual portfolios by a whopping 79.1 million ADA, or around $37.84 million, during the course of the past 30 days.

ADA’s Price Dip Creates Opportunity for Whale Investors

Remember how hard the recent crypto winter has affected ADA over the past 30 days. This time frame saw a 27 percent decline in the value of the cryptocurrency. Thus, among small ADA investors, there is panic.

However, large holders consider the price decline as the ideal chance to increase their ADA holdings in anticipation of an impending spike.

Sources pointed out that whale addresses have ceased dumping the asset class in addition to the significant ADA accumulation among addresses holding between 10k to 100k Cardano coins.

Upcoming Vasil Hard Fork Propels Whale Accumulation

Investor trust in a cryptocurrency asset is often shown by the enormous accumulation of that asset. The coin's value often rallies after the move at any little window of opportunity.

Considering that Cardano is about to see some favourable events, it is not surprising to see whale investors bolster their ADA holdings.

As reported by CoinGabbar , the much-anticipated Vasil Hard Fork will be released before the end of this month by Input Output Global (IOG), the company in charge of Cardano's research and development.