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Whales in buying frenzy - ADA stagnates

Large Cardano investors have been buying heavily in recent weeks.

By Finst News
• 1 min read
Whales in buying frenzy - ADA stagnates

Large Cardano investors have been buying heavily in recent weeks. The price of the cryptocurrency ADA has (unfortunately) hardly been affected by this so far.

Cardano-whales have not been idle in recent weeks. According to data service IntoTheBlock, investors have "who own between 100 million and one billion ADA tokens, increased their assets by 11 percent in the past 30 days". This means that "6.71 percent of total ADA supply" is now in their possession.

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The share price has barely risen during this period. Compared to the previous month, ADA's share price is up 1.4 percent. Cardano is currently trading around 45 cents. Meanwhile, preparations for the upcoming Cardano hard fork "Chang" are in full swing. You can find background on the upgrade here.

Charles Hoskinson's project has received some criticism recently. Forbes recently placed Cardano on its list of "good-for-nothing blockchains."

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