A leading analytics firm says well-funded Cardano investors are betting on ADA and have been buying heavy dips since FTX’s high-profile implosion.
Santiment says that addresses with 10,000 to 100,000 Cardano balances now hold the largest percentage of the four billion ADA token supply in a year and a half.
“The Key Cardano sharks have been accumulating steadily since June. And they have taken this level of dip buying to a new level since the FTX fallout in early November. Addresses with 10,000 to 100,000 ADA have added $83 million worth of coins since November 7.”
Source: Mood/Twitter
At the time of writing, Cardano is changing hands at $0.257, a fraction of the daily drop.
Looking at Bitcoin, Santiment shows that the amount of BTC being held by centralized crypto exchanges is now at an all-time high. According to Santiment, crypto exchanges are witnessing an exodus of over $304 billion worth of BTC from their platforms.
“Shown is the long-term 10-year view of bitcoin funds moving on and off exchanges. The amount of coins in self-custody continues, creating a new all-time high of now 18.2 million BTC.”
Source: Mood/Twitter
According to crypto tracking website CoinGecko, Bitcoin has a circulating supply of 19.24 million BTC, indicating that over 94.5% of the king’s crypto supply has been withdrawn from digital asset exchanges.
At the time of writing, Bitcoin is changing hands at $16,847, flat rate per day.
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