• Cardano [ADA] whales have purchased 217.2 million ADA a few days into the new year.
• Despite the broader crypto market adhering to a price correction, Cardano [ADA] has remained resilient.
• Cardano addresses holding between one million to one hundred million ADA have added over two hundred million to their holdings since 2023.
The start of the new year brought a flurry of activity for Cardano [ADA] whales as they invested in buying 217.2 million ADA. Despite the current market conditions that saw most cryptos experience a price correction, Cardano [ADA] has withstood the pressure, no doubt due to the efforts of these whales.
Santiment, an ecosystem real-time update provider, recently revealed that Cardano addresses holding between one million and one hundred million ADA had added over two hundred million more to their holdings since 2023. This follows a period that saw these same investors offload 568.4 million ADA between November and December 2022.
At the time of writing, ADA’s price had gained 11.69% in the last seven days despite other altcoins faltering. It remains to be seen how long Cardano [ADA] can remain resilient against the all-round trend, but indications from the daily chart seem to suggest that it might not be much longer before it joins the rest of the market.
In the meantime, investors will keep a watchful eye on Cardano addresses holding between one million and one hundred million ADA, as these whales may be the key to Cardano [ADA] making a price breakout. Despite the current market conditions, Cardano [ADA] whales have shown to be undeterred, and their actions over the last few weeks have proven to be a testament to their confidence in the token.