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Over the past six mohs, as Cardano’s price dropped 71% from $0.90 to $0.26, major holders of the digital currency have quietly added more than 819 million ADA to their reserves.
Data from the network shows that those Cardano whales with between 100,000 and 100 million ADA collected more than 1.6% of the total supply during this period. As a result, the share of this group in the total supply of ADA has increased from 66.84% to 68.44% in six mohs.
The crypto market has been under selling pressure and cautious seime during this time, and Cardano has lost several key supports. However, the coinued accumulation of whales is a sign of long-term resistance and the possibility of a return to the bullish trend.
Besides this, the developme of the Cardano ecosystem with projects such as Midnight and cooperation with companies such as Moneygram, shows that the fundameals of this network are still strong.
For retail investors, these developmes can be a signal of a buying opportunity at low prices, but one should not forget that the market volatility is still high and eering without a detailed analysis of the conditions is very risky.
