1.93 billion ADA held by the largest Cardano address, what is behind the huge investment?

According to Cardano blockchain explorer Cexplorer, the largest Cardano addresses store 1.93 billion addresses $ADA.

Cexplorer shares screenshots of the top 10 addresses. $ADA balance. The one sitting in the first place is $ADA Wallet with balance of 1.93 billion $ADA.

The whale’s first activity dates back to August 18, 2020, five years and five months ago. This is about three years after the launch of Cardano, which was created in September 2017. $ADA Around the time of the whale’s initial activity, prices ranged from $0.0869 to $0.0184.

Cardano’s price then rose the following year, reaching an all-time high of $3.10 on September 2, 2021.

of $ADA Whales’ staying power was then tested and prices fell, but remained resilient.

Data from Cexplorer shows that Cardano’s top addresses were last active about 27 days ago and have been inactive so far this year.

Cardano whale (“Leviathan”) accounts for 9.7% of supply

According to data from Cexplorer, there are between 1 million and 5 million cardano whales. $ADA It holds 3.73 billion units, which is approximately 9.7% of the circulating supply.

According to Cexplorer’s classification, between 5 and 20 million “humpback whales” $ADAmanaged a total of 2.97 billion $ADA or 7.7% of supply.

‘Leviathan’ may be the largest Cardano holder, consisting of a crypto exchange that owns $20 million $ADA That’s all. total $ADA This category holds 17.52 billion, or 45.6% of the circulating supply.

Cardano news

In recent news, Cyber ​​Hornet has filed for the S&P Crypto 10 ETF. This could be the first S&P linked spot basket to include Cardano.

FluidTokens is in the final stages of the Bitcoin Cardano bridge. FluidTokens revealed in a tweet that Bifrost GitHub documentation has been created and added to the repository. It highlighted that Bitcoin liquidity on Cardano will soon be released and the final stage of development has arrived.

$ARK I have applied for $ARK CoinDesk 20 Crypto ETF. Cardano ($ADA) is part of the application along with BTC, XRP, ETH, SOL, etc. The crypto ETF is expected to trade on the NYSE, but is currently awaiting regulatory approval.