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Cardano Sharks Scoop Up $83M Worth of ADA Even As Price Continues to Head South

Cardano sharks seem to be splurging more money towards ADA at current discounted prices. According to on-chain and social metrics platform Santiment, ADA key shark addresses now hold 4 billion ADA after accumulating 331M more since the FTX implosion. Sharks for this particular cryptocurrency as addresses which hold 10,000-100,000 ADA.

As per the firm, whereas these addresses have been accumulating steadily since June 2021, they seem to have taken this level of dip buying to a new level since the FTX fallout in early November. 

“Addresses holding 10k to 100k ADA have added $83M worth of coins since November 7th,” wrote Santiment. Notably, this cohort currently holds its largest percentage of supply in 1.5 years, that is, since June 2021.

Cardano Cardano $0.99
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