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

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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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