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Number of Cardano Whale and Shark Wallets Surge to 16-Month High Despite Bear Market: Santiment

According to blockchain analytics platform Santiment, wealthy investors are accumulating large amounts of Cardano (ADA) despite a stagnant cryptocurrency market. The number of wallets holding 100,000 or more ADA tokens has risen to 25,294, a level not seen since April 2022.

This increase in whale and shark wallets has occurred despite negative trader sentiment towards Cardano, which has fallen approximately 35% since reaching its 2023 peak four months ago. Santiment is also monitoring GitHub development activity across blockchain projects and notes that blockchain oracle network Chainlink (LINK) has re-entered the top five.

Chainlink Chainlink $18.57
+7.07%
Cardano
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