Retail Cardano Wallets Reached New All-Time High as ADA Jumped 5%


On-chain analysis has shown that the number of mid-size ADA addresses has reached ATH. This may have contributed to the recent rally of ADA breaking from the months-long downward channel and now sitting above $1.20.

  • In contrast, addresses holding more than 10K ADA have reached ATL. This could be a warning sign that mega whales may have been gradually decreasing their exposure to ADA.
  • According to the latest Cardano on-chain analysis provided by Santiment, the number of mid-tier addresses, holding in between 100 to 10K ADA, has reached All-Time-High, accounting for 16.8% of the supply in circulation.
  • However, addresses owned by mega whales who are holding more than 10K ADA, have declined to All-Time-Low, around 83.1% of the total supply. On Nov. 10th, the number of such addresses surged to the highest point in the past six months, accounting for 83.86%% of the total circulating supply.
  • The graph drafted by Santiment also indicates that addresses holding 0 to 100 ADA have been steadily growing for more than six months, but they still only account for around 0.12% of the total supply.
  • This is an indicator that midsize investors have been actively accumulating ADA, while mega whales have been lowering their holdings to a historic low point. Also, there has been a growing interest among retail investors in accumulating ADA for six months.
  • While bitcoin has failed to reclaim the $47,000 level, an altcoin rally among the large caps has also been stalled.
  • Cardano is the most substantial gainer from the top 10 digital assets with a near 5% increase in the past 24 hours. Reclaiming the position as the seventh-largest cryptocurrency by market cap, ADA now sits slightly above $1.2, attempting to break up from the $1.24 resistance level.
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