Big Investors Accumulate Cardano (ADA) Despite Market Silence - COINTURK NEWS
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Big Investors Accumulate Cardano (ADA) Despite Market Silence

1:14 pm (41 days ago)
August 17, 2023

Crypto analysis and data platform Santiment reported that despite the widespread silence affecting the cryptocurrency market, large investors are accumulating significant amounts of Cardano (ADA). The platform also highlighted 10 altcoin projects with notable development activities.

Big Investors Chase Cardano’s ADA

Santiment reported that the number of wallets holding 100,000 or more ADA has reached 25,294, the highest level seen since April 2022, or in other words, the highest level in the past 16 months. Despite the negative investor sentiment towards Cardano, with the whale and shark wallet addresses witnessing a 35% decrease since reaching the highest level of the year four months ago, this increase in asset amount occurred.

ADA is currently trading at $0.2764, with a 1.07% decrease in the last 24 hours. The altcoin’s market value stands at $9.68 billion according to the latest data.

Furthermore, Santiment highlighted unexpected increases in the trading volume of other altcoin projects. The platform noted the rallies seen in certain altcoin projects, saying, “Rallies continue to come from the least expected places. While Bitcoin surpassed $30,000 to start the week, altcoins such as Solana (SOL), Pepe (PEPE), Shiba Inu (SHIB), and HarryPotterObamaSonic10Inu rose sharply. You can track the volume of each project from here.”

10 Altcoins Facing High Development Activity

Santiment also seems to closely monitor the development activity of cryptocurrency projects on GitHub. According to their data, the altcoin project with the highest developer activity on GitHub is Polkadot (DOT).

Looking at the list provided by the crypto analysis and data platform, other altcoin projects following Polkadot are Kusama (KSM), Cardano (ADA), Hedera (HBAR), Internet Computer (ICP), Status (SNT), Aptos (APT), Vega Protocol (VEGA), and Cosmos (ATOM).

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