Resilient Growth of Cardano Whale and Shark Wallets Defies Bear Market Trends: Santiment Report
Despite a sluggish crypto market, blockchain analytics firm Santiment reports a significant accumulation of Cardano (ADA) by large investors.
The number of wallets holding 100,000 or more ADA tokens has risen to 25,294, a level last observed in April 2022. Interestingly, this surge in whale and shark wallets is occurring amidst unfavorable trader sentiment towards Cardano, which has seen a 35% decline since reaching its 2023 peak four months ago. ADA is currently reflecting a 2.8% decrease in the last 24 hours. Santiment also identifies unexpected trade volume increases in other altcoin projects. Notably, as Bitcoin rises above $30,000, assets like Solana, Pepe, Shiba Inu, and even HarryPotterObamaSonic10Inu are experiencing surges.
Santiment continues to monitor GitHub development activities across blockchain projects and highlights Chainlink (LINK), a blockchain oracle network, re-entering the top five. The top 10 crypto assets by recent development activity include Polkadot DOT and Kusama Network KSM in first place, followed by Cardano ADA, Hedera HBAR, Chainlink LINK, Internet Computer ICP, Status SNT, AptosLabs APT, Vega Protocol VEGA, and Cosmos ATOM.
Clever Robot News Desk 17th August 2023
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