Cardano witnesses significant ADA accumulation by whales amidst price decline. Staking and NFT volume declines, DEX volumes continue to grow.
have remained persistent. This consistent effort seems to have piqued the interest of major investors.Cardano witnessed a substantial accumulation by whales recently. Over the past month, these large investors amassed approximately 130 million ADA tokens, translating to a value exceeding $39 million.
Additionally, the number of token holders also saw a decline. A fall in the number of holders implied that even though whales were showing interest in ADA, retail interest was dwindling.A crucial aspect of Cardano’s ecosystem is staking, which allows ADA holders to participate in securing the network and earning rewards.
Over the last 30 days, core developers on the Cardano network dropped by 7.1%, while code commits saw a 5.1% reduction in the past month.The Cardano network’s NFT market also experienced fluctuations. The volume of NFTs sold on various marketplaces witnessed a decline, hinting at changes in the demand for these unique digital assets.
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