A leading analyst firm claims that deep-pocketed Cardano investors are stocking up on ADA and massively buying dips since the much-publicized FTX implosion.
Santiment says that addresses with a balance of 10,000 to 100,000 Cardano now hold their largest percentage of supply in a year and a half to the tune of four billion ADA tokens.
“Cardano key sharks have been accumulating steadily since June. And they have taken that buying level to the next level since the FTX fallout in early November. Addresses holding between 10,000 and 100,000 ADA have added $83 million in coins since November 7.
At the time of writing, Cardano is changing hands for $0.257, a fractional decrease on the day.
Looking at Bitcoin, Santiment reveals that the amount of BTC held on centralized crypto exchanges is now at an all-time high. According to Santiment, crypto exchanges are witnessing an exodus of over $304 billion worth of BTC from their platforms.
“The illustration is the long-term 10-year view of Bitcoin funds moving on and off exchanges. The amount of coins in self-custody continues, creating a new all-time high, now at 18.2 million BTC.
According to crypto tracking website CoinGecko, Bitcoin has a circulating supply of 19.24 million BTC, indicating that over 94.5% of the crypto king’s supply has been withdrawn from digital asset exchanges. .
As of this writing, Bitcoin is changing hands for $16,847, flat on the day.
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