Cardano Whales Fuel Growth with Massive Token Accumulation

Cardano has been experiencing a slow price performance in recent times, with its token hitting an all-new low of $0.20 after reaching a high of $0.96 earlier this year. Despite this, the cryptocurrency has continued to attract investors who see opportunities in buying dips.

According to a report by Santiment, Cardano whales have been accumulating large quantities of ADA tokens, with nearly 100K to 100M ADA wallets adding over 819M ADA tokens. This represents approximately 1.6% of the total supply, signaling trust in the Cardano ecosystem.