Retail Cardano Wallets Reached New All-Time High as ADA Jumped 5%

#Ripple #XRP

On-chain analysis has shown that the number of mid-size ADA addresses has reached ATH. This may have contributed to the recent rally of ADA breaking from the months-long downward channel and now sitting above $1.20.

• In contrast, addresses holding more than 10K ADA have reached ATL. This could be a warning sign that mega whales may have been gradually decreasing their exposure to ADA.
• According to the latest Cardano on-chain analysis provided by Santiment, the number of mid-tier addresses, holding in between 100 to 10K ADA, has reached All-Time-High, accounting for 16.8% of the supply in circulation.
• However, addresses owned by mega whales who are holding more than 10K ADA, have declined to All-Time-Low, around 83.1% of the total supply. On Nov. 10th, the number of such addresses surged to the highest point in the past six months, accounting for 83.86%% of the total circulating supply.

#Cardano jumped back above $1.22, and supply is moving out of $100k+ $ADA addresses. The low-mid and high-mid tiers are the group accumulating consistently, and these 100 to 100k $ADA holders now own their #AllTimeHigh of 16.8% of the available supply https://t.co/P8e6ibGFD8 pic.twitter.com/0GDiIXwEz5

— Santiment (@santimentfeed) April 4, 2022

• The graph drafted by Santiment also indicates that addresses holding 0 to 100 ADA have been steadily growing for more than six months, but they still only account for around 0.12% of the total supply.
• This is an indicator that midsize investors have been actively accumulating ADA, while mega whales have been lowering their holdings to a historic low point. Also, there has been a growing interest among retail investors in accumulating ADA for six months.
• While bitcoin has failed to reclaim the $47,000 level, an altcoin rally among the large caps has also been stalled.
• Cardano is the most substantial gainer from the top 10 digital assets with a near 5% increase in the past 24 hours. Reclaiming the position as the seventh-largest cryptocurrency by market cap, ADA now sits slightly above $1.2, attempting to break up from the $1.24 resistance level.

OhNoRipple via https://www.ohnocrypto.com/ @Jordan Lyanchev, @Khareem Sudlow