Cardano sharks accumulate 80 million ADA in 30 days

Blockchain analytics firm Santiment reported that Cardano sharks have entered an accumulation phase. According to the company, this comes after a long period of sales activity.

Cardano sharks keep accumulating

Sharks holding between 10,000 and 100,000 ADA have purchased over 79 million tokens. That is, they added more than $35.5 million to their inventories.

But not only that. In addition to the sharks, who also went shopping were the whales, Cardano’s mega investors.

As Santiment reported, investors who own 100,000 to 10 million ADA have stopped selling. As sales plummeted, whales began to regroup their tokens in search of future profits.

The company pointed out that the rise in ADA large investors is due to recent price movements. In other words, now that the price is low, whales and sharks believe the bottom has been reached.

Santiment reported that, going forward, it will be a period of accumulation and bullishness and not more bearishness.

Crypto Whales

Like the ADA sharks, Santiment said that the sharks of the BTC also stopped selling and are buying. According to the company, investors who have between 10 and 100 BTC have also entered an accumulation phase.

Since the beginning of June, the investor group has amassed 52,000 BTC worth around $1.10 billion.

“BTC addresses with 10 to 100 BTC accumulated Satoshis this fall,” he said.

Furthermore, they collectively increased their holdings to 4.29 million BTC.

“Over the past five weeks, as prices have retreated -27%, they have added 52,000 more coins to their wallets,” the company said.

Also according to Santiment data, BTC sharks were accumulating BTC in February and March. At that moment, the price of BTC jumped 18%.

Between the end of March and the end of May, the group of investors sold their Bitcoins and BTC dropped almost 40%.

Now, it’s time to accumulate again, according to the company.