The largest Cardano whales again own the largest percentage of ADA in circulation, which is almost 50% of it.
a recent report sentiment show Wallets with over 10 million ADA are now back to hold almost 50% of the ADA in circulation.
According to Sentiment, the last time these whales had so much ADA was two years ago. The news-sharing Sentiment Analytics team stressed that a large proportion of these addresses belong to crypto exchanges.
Whales account for 46.6% of circulating ADA
Nearly half of the circulating ADA supply is back in the ownership of large wallets, including centralized digital exchanges. This happened on September 2 despite the coin’s price being down almost 60% from an all-time high of $3.10.
The total amount of ADA in circulation is 33,739,028,516 coins.
I #cardano $3.10. is down -59% since #all time high, However, the top whale of the asset (holds 10M+ . $ada) has returned its largest percentage of supply in two years at 46.6%. Note that a large proportion of these addresses are owned by exchanges. https://t.co/N8IVKH7hPx pic.twitter.com/9kwd0bMJHn
— sentiment (@santimentfeed) 11 April 2022
Cardano Wallet sees an increase of 1,600%
Earlier, U.Today reported that the Cardano ecosystem recently showed a record ADA wallet growth of over 1,600% over the past two years.
As of 2020, the number of addresses holding ADA has increased from 186,000 currently to 3,200,000.
Curiously, Cardano started 2022 with just 500,000 addresses. However, in February, there was an explosive increase, taking this metric to its current historical record.
ADA market performance
Cardano’s native cryptocurrency has been in decline since mid-January. On January 18, it managed to reach a local high of $1.6028. After that, however, the price is going down.
The all-time low in 2022 was the level of $0.7623 on February 26. April 10 was the last day the asset was above $1. At the time of writing, ADA is changing hands at $0.9538, falling there from the $1.06 price mark.