Cardano Millionaire Whale raised its stake by 40% in January: Details
on-chain analytics firm IntoTheBlock Notes that Cardano millionaire addresses are actively accumulating, although recently flat price action has been observed for ADA. ADA is trading sideways after falling to a low of $0.92 on Jan 22. At the time of publication, the ADA was changing hands at $1.06.
$ada Whale accumulation.
The balance of addresses with 1m-10m ADA has increased by 40.65% in the first month of 2022 itself.
These addresses now collectively account for 24.87% of the circulating supply.
Chart: https://t.co/CZUXvzQpS0 pic.twitter.com/TAubclrHYW
— IntoTheBlock (@intotheblock) 1 February 2022
IntoTheBlock notes that address balances with 1-10 million ADA have increased by 40.65% in the first month of 2022. It added that these addresses now collectively hold 24.87% of the circulating supply, which is currently 33.57 billion ADA.
The ADA is seeing accumulations from different levels of whales. U.Today reported that balances between 10,000 and 100,000 ADA in Cardano addresses have increased by 15,000% since mid-December 2021. This category of investors more than doubled their holdings by depositing $53.6 million in tokens at the end of January.
forward network adjustment inward
Following the recent parameter update announced by Cardano, Tim Harrison, IOHK Marketing and Communications Director says more network adjustments may come before the weekend.
Network adjustments coming before the weekend ️ https://t.co/3IpSPeM3XU
— Tim Harrison (@timbharrison) 1 February 2022
IOHK noted that Cardano will continue to be optimized in a series of measured phases, carefully scaling up Cardano for future growth as demand increases. Changes introduced with the release of node 1.33.0 in early January allowed changes to certain network parameters, including block size and memory units. IOHK recently announced that the block size of the blockchain is on track to increase by 11% as part of its network optimization efforts.
The total block size will increase to 80 KB from the current size of 72 KB, which means Cardano’s blocks may now be able to hold more transactions. Pipelining, an improvement to the consensus layer that facilitates faster block propagation, is one of the major scaling improvements to be deployed in 2022.