10% of the whales that operate in the Cardano ecosystem control 94% of the circulating ADA, data reveals – DiarioBitcoin

For Angel Di Matteo @shadowargelAt least some 31 billion THERE IS would be housed in the 10% of the wallets with the most capitalized funds, which would reveal a high concentration of the currency of Cardano in the hands of a few investors.

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An article published by the portal Finbold reveals that, 94% of the current circulating supply of tokens THERE IS from Cardano it would be in the hands of crypto whales.

Whales control more than 90% of circulating ADAs

As such, research conducted by the team of Finbold with data from the analysis firm Blockchain, CoinMetrics, reveals that at least a total of 31 billion THERE IS, valued at USD $ 37,800 million at the time of publication, would be in the hands of 10% of the whales that operate on the ecosystem of Cardano. This figure is obvious taking into account that on December 13 there are just over 33,428 million circulating tokens.

Delving further into the data, the figures reflect that the concentration of THERE IS in crypto whale portfolios began to increase steadily since the beginning of this 2021. Therefore, it is estimated that these addresses have been increasing their supply of tokens throughout this year, this by at least about 1,000 million units.

Hoarding instead of selling

Regarding the whales in question, the reading indicates that these directions would be dedicating themselves to accumulating ADA, which they have been doing throughout all this year amid the constant advances that the development team has been making. Let us bear in mind that a few months ago the network officially implemented support for smart contracts, with which the arrival of many use cases that take advantage of the benefits offered by its network is expected. Blockchain.

One of the most anticipated announcements by enthusiasts of Cardano is the arrival of platforms DeFi to your network. One of the contenders that is already taking steps in this matter is SundaeSwap, which has already launched its public testnet and is expected to be ready in the coming weeks for full-fledged operations.

It is precisely these expectations that reinforce the thesis behind the whales’ interest in accumulating more THERE IS throughout this 2021, since the ecosystem DeFi in general it has been having great success in different networks such as Binance Smart Chain, Solana y Avalanche.

However, other published reports suggest that existing expectations around Cardano They are also present on other projects Blockchain, especially in those that pose a good scenario for sectors such as DeFi and the NFT, therefore, the aforementioned projects, including also Polkadot, They seem to be in the focus of interest for many investors and developers, precisely because of the possibilities they pose for the not too distant future.

¿Cardano undervalued?

With networks like Avalanche Y Solana Capitalizing on the headlines of many reports these days, various investigative agencies also highlight that Cardano it could be undervalued in the face of the impact it could have in the next few years.

This thesis is justly supported by a study published by Grayscale, where it indicates that the network has a lot to offer and that it can operationally exceed what it currently has in hand Ethereum, the network that concentrates the bulk of the activity Blockchain nowadays.

In terms of prices, despite the fact that the digital currency is currently priced at about USD $ 1.22 at the time of publication, towards the beginning of the year its value increased by more than 590%, since for January 1 the token THERE IS it registered a price of USD $ 0.17 per unit. On the other hand, it reached historical highs above USD $ 3, becoming one of the best valued assets at the time.


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Fountain: Finbold, Coinmetrics

Version by Angel Di Matteo / Daily bitcoin

Picture of Unsplash

We would love to say thanks to the author of this article for this incredible content

10% of the whales that operate in the Cardano ecosystem control 94% of the circulating ADA, data reveals – DiarioBitcoin

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