According to Santiment, affluent crypto investors have been accumulating Cardano (ADA) in large amounts, with wallets holding between $10,000 to $100,000 worth of ADA accumulating the largest amount in almost a year.

The market analytics platform reports that whales and sharks have added an additional $116.1 million to their holdings of the Ethereum (ETH) competitor since May, while on-chain transaction volume has also surged to over $67 billion. Santiment also suggests that altcoins such as Solana (SOL), Toncoin (TON), and Hedera (HBAR) could rally as Bitcoin (BTC) breaches $30,000, with profit-taking for the flagship crypto asset at its highest in over three weeks.