Cardano whales are showing signs of life, according to onchain analytics firm Santiment, with the network seeing the highest whale transactions since FTX’s implosion.
According to it, a whopping 405.85 million ADA has been accumulated by Key sharks and whales since New Year’s Day. As a result, addresses with 100,000 to 100 million ADA now have the most in their combined wallets since November 8.
Santiment noted today that large transactions, defined as those exceeding $100,000, have reached a 12-week high.
”Cardano’s price is up +65% in 2023, and key shark & whale accumulating has had a lot to do with this. Addresses holding 100K to 100M $ADA now hold the most in their combined wallets since Nov. 8th. Today, $100k+ whale transactions hit a 12-week high,” Santiment analysts wrote.
Santiment observes that the Cardano Network is recording the largest $100,000 transaction number since November 12.
The Cardano Foundation has shared encouraging on-chain data for the past month of January. According to the graphic posted, the number of transactions reached 60.2 million, up 3.06% from January. At the same time, the overall number of wallets grew by 1.72% to 3.91 million, while the number of delegated wallets increased marginally by 0.84% to 1.26 million.
Plutus scripts were up 6.08% at 4991. Native tokens stood at 7.66 million, which is a 3.06% increase. Minting policies rose by 2.23% to a current 69,177.
31 percent of transaction types were made with smart contracts. 23 percent of transaction types were made without smart contracts, which are metadata types. 46% were simple transaction types.
The positive sentiment around the blockchain is trickling into its DeFi ecosystem, as reflected in the TVL. Cardano’s total value locked, or TVL, is currently $101.38 million per DefiLlama data, an amount that was last seen in mid-August 2022. With the inclusion of staking, the value is even higher at $126.81 million.
Image Credit: Shutterstock
Keep in mind that we may receive commissions when you click our links and make purchases. However, this does not impact our reviews and comparisons. We try our best to keep things fair and balanced, in order to help you make the best choice for you.
