Cardano Whales Acquire $138 Million In ADA

The Santiment data source recently tweeted that, in June, Cardano whales and sharks ingested an astounding quantity of ADA, and that, should this pattern continue in August, “it may get interesting.”

Addresses for whales follow the Cardano

According to Santiment, whale and shark wallets purchased ADA, the native token of Cardano, in mid-June, just one week after the token’s price fell at that time, for a total of $138 million.

The Santiment team noted that while at first glance this sum does not appear astounding, things could become interesting if these investors continue to purchase up ADA in August.

Charles Hoskinson explains how cryptocurrency markets function

Charles Hoskinson, the creator of Cardano and Input Output Global (IOG), recently attacked a Twitter user who lamented the volatility of ADA in a tweet. He said in a tweet that the value of the ADA he paid $5,000 for in January 2021 is only around $1,500. In response, Hoskinson stated that the cost of that amount of ADA is currently $6,750 and he also emphasized that he has no control over the cryptocurrency market.

He also noted that this person does not appear to comprehend how cryptography functions or the primary justification for its creation.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Annie

CoinCu News