• Cardano (ADA) whales and sharks have increased their holdings to the highest level since September 2022.
• Transaction volume on ADA has also risen significantly, hitting over $67 billion.
• Santiment believes that Solana (SOL), Toncoin (TON) and Hedera (HBAR) could also benefit from Bitcoin’s price surge.
Cardano Accumulation Reaches Highest Level Since September 2022
The crypto analytics firm Santiment recently reported that wallets with amounts of Cardano (ADA) between $10,000 and $100,000 just hit their highest accumulation levels since September 2022. The Ethereum competitor has seen almost a 16 million increase in holdings, along with an impressive rise in transaction volume – reaching over 67 billion.
SEC’s Coinbase Lawsuit Causes Cardano Price Drop
The altcoin’s price had dropped from $0.37 to around $0.26 in June after the U.S Securities and Exchange Commission claimed that it was a security in its Coinbase lawsuit. However, despite this setback, affluent crypto investors still seem to be buying up ADA at its discounted price – as it is now trading for around $0.30, showing a 2% increase over the last 24 hours according to CoinMarketCap’s data .
Altcoins Could Benefit From Bitcoin Surge
As Bitcoin breaches $30k for the first time in three weeks, Santiment states that other altcoins such as Solana (SOL), Toncoin (TON), and Hedera (HBAR) are expected to benefit from this surge due to FOMO or Fear Of Missing Out driving prices even higher than before if they continue pushing forward during the day.
Crypto Investors Continue To Show Confidence In Market
This recent news is yet another indication of confidence in the crypto market from investors who are stocking up on ADA at discounted prices despite any regulatory issues they may face when investing into digital assets like cryptocurrencies . This could potentially signal further growth for both Cardano and other altcoins alike as we move forward into 2021 and beyond.
Cardano’s whales and sharks have been accumulating again while transaction volumes soared past 67 billion dollars recently – with further potential gains anticipated due to Bitcoin’s continued surge across all-time highs throughout 2021 so far . Crypto investors continue displaying confidence in the market as ADA remains discounted despite regulatory issues – raising optimism for further growth across both Cardano & many other altcoins this year & beyond