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Blockchain analytics firm Santiment says that massive holders Cardano () are driving up the price of the eighth-largest crypto asset by market cap.
Blockchain analysis company Santiment says that the massive holders Cardano () are on the rise the price of the eighth largest crypto asset per market capitalization.
Trading in the neighbourhood of $0.246 on January 1st at $0.412 last week, The increase is mainly due to the large build-up of Cardano investors pocketed to the tune of ADA 405.85 million, $162.34 million at the time it was drafted.
On Friday, the Cardano network saw 105 transactions worth more than $100,000, the highest since the FTX crypto exchange collapsed in November, Santiment said. 100,000 – 100,000,000 ada now hold the most combined portfolios since November. 8th. As of November 8, addresses with between 100,000 and 100,000,000 ADAs have the largest combined portfolio.
Keep an eye on that portfolio as prices change in the future."
The Bitcoin () network also witnessed its biggest transaction in four weeks with a new wallet receiving $313.1 million worth of the king crypto in a single transaction, according to Santiment.
"Eight hours ago, the biggest Bitcoin deal in four weeks was held. This brand new whale address went from nothing to suddenly holding ~13369 btc (value ~$313.1M) after one transfer. This all-new whale address went from nothing to suddenly withholding ~13369 BTC (valued at ~$313.1 million) after one transfer.
Source: Santiment/Twitter
Santiment also that high-volume transactions are being witnessed on several altcoin networks, including Loopring (), Aave (), dYdX () and Curve (
“Big whale transaction numbers are showing up on several altcoin networks today. This doesn’t necessarily mean a dump is in progress, but it does indicate that increased volatility is likely”
It doesn't necessarily mean a spill is going on.
As of the writing of this document, CRV, the governance sign of Curve Finance, a decentralized, stability-oriented trading system, is worth $1.09.
When writing, the dYdX decentralised exchange governance token trades for $3.01.
At the time of writing these lines, LRC, the native symbol of the decentralised exchange loop, trades at $0.40.
