Cardano (ADA) Whale Numbers Rise In 2023 While $416.5 Billion Bitcoin Off Exchanges

Key Points:

• According to Santiment, Cardano whale numbers have increased in 2023, and enormous transactions have occurred.
• There is now $416.5 billion in bitcoin languishing outside of exchanges, and $29.2 billion in bitcoin on exchanges as self-custody continues to be the predominant holding method for Bitcoin holders and traders.

Cardano whale numbers have increased in 2023, and enormous transactions have occurred. Bitcoin’s supply continues to migrate to self-custody as prices hover around $23k in early February.

According to Santiment, a behavior analytics platform for cryptocurrencies, Cardano’s whale action, in particular, has been on the rise all year. The last time there were this many $100,000 $ADA trades was in May, when its price increased by 36% from the start of that week until its local peak in early June.

At the time of writing, Cardano (ADA) is trading at $0.4, which is up more than 4% over the last 24 hours.

Besides, the on-chain analytics also reported that there is now $416.5 billion in bitcoin languishing outside of exchanges and $29.2 billion in bitcoin on exchanges. So there are 14.26x the coins off exchanges vs. on exchanges. According to Santiment, Self-custody continues to be the predominant holding method for Bitcoin holders and traders.

Bitcoin’s existing supply continues moving to self-custody as prices range at $23k here in early February.

At the time of writing, Bitcoin (BTC) is trading at $23,309, which is up more than 2% over the last 24 hours.

Previously, Santiment reported the famous memecoin Shiba Inu (SHIB) and the controversial crypto asset HEX were also seeing significant spikes in large whale transactions. In particular, both altcoins have witnessed a surge in transactions worth more than $100,000.

Whales have also been steadily accumulating SHIB in 2023.

SHIB is now the largest altcoin holding among Ethereum whales, followed by the stablecoin Tether (USDT), according to WhaleStats.

The top 5,000 Ethereum (ETH) whales now together own a whopping 50,580,018,036,005 SHIB worth $720,570,682.

SHIB is now worth $0.0000144, increasing by 1.9% in the last 24 hours.

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.

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Thana

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