According to WhaleStats, whales’ portfolios currently hold more than 30.8 million ADA, with the top BSC whales holding the most. Up to 4,000 of the largest BNB Chain wallets (the “whales”) are tracked by WhaleStats, with an average value of $886,582. Known exchange addresses and project wallets are not included.
According to WhaleStats, the top 100 BSC wallets of BSC whales currently possess 30.8 million ADA, valued at more than $20.8 million. For example, “Dinah Soar,” a large holder, has almost 2,300 ADA in her wallet. The enormous amount of ADA held by whales could indicate that these large holders have accumulated. Following a seven-month dumping period, on-chain data suggests whales are approaching a major accumulating phase.
Meanwhile, Cardano’s price has decreased around 12% in the previous 24 hours due to ongoing market uncertainty. This year, ADA has underperformed, falling by more than 43% from the beginning of the year. After making significant gains the previous year, ADA is currently down 78.46 percent from its all-time high, set in September 2021, shortly before the Alonzo hard fork upgrade.
Cardano founder Charles Hoskinson claims that cryptocurrencies have entered a bear market, which explains ADA’s dismal performance. No announcement, according to Hoskinson, will have an impact. As a result, the ADA’s pricing may continue to struggle despite the protocol’s rising technical capabilities and community.
Read more: Cardano (ADA) plans to launch anti-counterfeit platform
