Cardano Addresses With up to 100,000 ADA Now Hold Record-High Percentage of Supply

Cardano’s accumulation period continues as shark addresses continue to acquire coins.

According to Santiment, an on-chain analytics tool, supply is shifting out of high/whale-tier addresses, meaning those with more than 100,000 ADA. This decreasing supply is being absorbed by the low-mid and high-mid tiers, which are continually accumulating.

Cardano holders with ADA value between $100 and $100,000 have achieved new highs of 16.8% of the available supply, according to a graphic released by the on-chain analytics business on April 4.

According to the information presented, low-tier addresses (those with less than $100 in assets) own only 0.128% of the ADA supply, but their numbers are growing.

ADA has risen from a low of $1.10 on April 1 to a high of $1.23 at the time of writing. ADA is currently down 60.95% from its all-time highs of over $3. The accumulation period for Cardano continues as shark addresses continue to acquire coins as ADA seeks to recoup these losses.

According to statistics from IntoTheBlock, ADA’s on-chain transaction volume increased 50-fold, resulting in an inflow of institutional capital into the network. The quick growth in institutional volume reflects the project’s growing intrinsic significance. Additional blockchain use cases have been created since the beginning of the year, such as the EVM-compatible Layer 2 protocol.

The Milkomeda Foundation has announced the introduction of C1, an Ethereum Virtual Machine-compatible sidechain that is directly connected to the Cardano blockchain.

Users may now transfer assets between the two blockchains with ease, allowing Ethereum-based decentralized software (dApps) to run on Cardano. Wrapped smart contract technology, which Milkomeda just pioneered, is used to do this.

Cardano is becoming increasingly relevant to institutional investors, who are looking for actual value rather than speculative profits, as new solutions are released on the chain.

According to CoinMarketCap statistics, ADA is now outperforming the top 10 in terms of 24-hour gains, up 4% to $1.21.

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