{"id":583642,"date":"2023-08-14T12:49:05","date_gmt":"2023-08-14T11:49:05","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=583642"},"modified":"2023-08-14T12:49:19","modified_gmt":"2023-08-14T11:49:19","slug":"cardano-whales-steadily-accumulating-ada-despite-price-drop","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/cardano-whales-steadily-accumulating-ada-despite-price-drop\/","title":{"rendered":"Cardano Whales Steadily Accumulating $ADA Despite Price Drop"},"content":{"rendered":"<ul>\n<li>Cardano sharks and whales have continued to buy the token despite the fall in its price.<\/li>\n<li>Traders continue to sell heavily in intraday trading sessions.<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Following significant coin distribution between February 2021 and May 2022, Cardano [ADA] investors that hold over 100,000 ADA coins have again begun accumulating the crypto asset.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to Santiment, these investors have continued to \u201cfill their bags\u201d with ADA despite the steady decline in the altcoin\u2019s value. The coin shaved off 35% of its market capitalization in the last four months. At press time, this was $10.16 billion, making it the eighth-largest crypto asset in terms of market capitalization.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udc33 Trader sentiment toward <a href=\"https:\/\/twitter.com\/hashtag\/Cardano?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">#Cardano<\/a> continues to be low as its market cap is down 35% since topping 4 months ago. However, the sharks &amp; whales haven&#39;t been as deterred as one may think. There are now 25,294  wallets with 100K+ <a href=\"https:\/\/twitter.com\/search?q=%24ADA&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">$ADA<\/a>, the most in 16 months. <a href=\"https:\/\/t.co\/Q5XKveRh5n\" rel=\"nofollow\">https:\/\/t.co\/Q5XKveRh5n<\/a> <a href=\"https:\/\/t.co\/D0dcfM6LAy\" rel=\"nofollow\">pic.twitter.com\/D0dcfM6LAy<\/a><\/p>\n<p>&mdash; Santiment (@santimentfeed) <a href=\"https:\/\/twitter.com\/santimentfeed\/status\/1690983240730054656?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">August 14, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">Since this cohort of ADA investors began accumulating the coin, its value has dropped by 69%. As of May 2022, ADA traded above $0.7. At press time, it exchanged hands for under $0.3.\u00a0<\/span><\/p>\n<h3><b>ADA is on a loss-making streak<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">On-chain assessment of how profitable ADA has been as a digital asset in the last year revealed that the majority of holders have failed to turn profits since April 2022. According to <a href=\"https:\/\/app.santiment.net\/charts\/Y67Rvd5H__sCl\" target=\"_blank\" rel=\"noopener nofollow\">Santiment<\/a>, the coin\u2019s Market Value to Realized Value (MVRV) ratio turned negative on 7 April that year and remained below the center line.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This metric tracks the ratio between an asset\u2019s current price and the average price of its every coin\/token acquired. A high MVRV ratio indicates that the asset is overvalued, while a low MVRV ratio indicates that it is undervalued.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">At -51.36% at press time, it meant that if all holders sold ADA at its current value, more than half of them would realize losses.<\/span><\/p>\n<figure id=\"attachment_583644\" aria-describedby=\"caption-attachment-583644\" style=\"width: 3840px\" class=\"wp-caption alignnone\"><img class=\"size-full wp-image-583644\" src=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Cardano-ADA-09.31.22-14-Aug-2023.png\" alt=\"\" width=\"3840\" height=\"1300\" srcset=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Cardano-ADA-09.31.22-14-Aug-2023.png 3840w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Cardano-ADA-09.31.22-14-Aug-2023-300x102.png 300w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Cardano-ADA-09.31.22-14-Aug-2023-1024x347.png 1024w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Cardano-ADA-09.31.22-14-Aug-2023-770x261.png 770w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Cardano-ADA-09.31.22-14-Aug-2023-1536x520.png 1536w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Cardano-ADA-09.31.22-14-Aug-2023-2048x693.png 2048w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Cardano-ADA-09.31.22-14-Aug-2023-500x169.png 500w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Cardano-ADA-09.31.22-14-Aug-2023-269x91.png 269w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Cardano-ADA-09.31.22-14-Aug-2023-746x253.png 746w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Cardano-ADA-09.31.22-14-Aug-2023-1376x466.png 1376w\" sizes=\"(max-width: 3840px) 100vw, 3840px\" title=\"\"><figcaption id=\"caption-attachment-583644\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Further, data from <a href=\"https:\/\/app.intotheblock.com\/coin\/ADA\/deep-dive?group=financials&amp;chart=inAndOut\" target=\"_blank\" rel=\"noopener nofollow\">IntoTheBlock<\/a> revealed that 3.94 million addresses that hold ADA are \u201cout of money.\u201d This means they currently hold the altcoin at a loss. This figure represents 89% of all coin holders, as only 10.26% of all addresses holding ADA are at a profit.<\/span><\/p>\n<figure id=\"attachment_583645\" aria-describedby=\"caption-attachment-583645\" style=\"width: 2372px\" class=\"wp-caption alignnone\"><img class=\"size-full wp-image-583645\" src=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-14-at-09.32.03.png\" alt=\"\" width=\"2372\" height=\"920\" srcset=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-14-at-09.32.03.png 2372w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-14-at-09.32.03-300x116.png 300w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-14-at-09.32.03-1024x397.png 1024w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-14-at-09.32.03-770x299.png 770w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-14-at-09.32.03-1536x596.png 1536w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-14-at-09.32.03-2048x794.png 2048w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-14-at-09.32.03-500x194.png 500w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-14-at-09.32.03-269x104.png 269w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-14-at-09.32.03-746x289.png 746w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-14-at-09.32.03-1376x534.png 1376w\" sizes=\"(max-width: 2372px) 100vw, 2372px\" title=\"\"><figcaption id=\"caption-attachment-583645\" class=\"wp-caption-text\">Source: IntoTheblock<\/figcaption><\/figure>\n<h4><b>No rally in sight<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">With its price declining further, daily traders have continued to distribute ADA. Its Relative Strength Index (RSI) was 42.99 at press time, while its Money Flow Index (MFI) was 23.67, almost oversold.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Both key indicators resting beneath their center lines since the month started showed a momentum shift from buy-side to sell-side.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The bears controlled the ADA market at press time with the positive directional index (green) beneath the negative directional index (red).\u00a0<\/span><\/p>\n<figure id=\"attachment_583643\" aria-describedby=\"caption-attachment-583643\" style=\"width: 2792px\" class=\"wp-caption alignnone\"><img class=\"size-full wp-image-583643\" src=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-14-at-09.17.33.png\" alt=\"\" width=\"2792\" height=\"1146\" srcset=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-14-at-09.17.33.png 2792w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-14-at-09.17.33-300x123.png 300w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-14-at-09.17.33-1024x420.png 1024w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-14-at-09.17.33-770x316.png 770w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-14-at-09.17.33-1536x630.png 1536w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-14-at-09.17.33-2048x841.png 2048w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-14-at-09.17.33-500x205.png 500w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-14-at-09.17.33-269x110.png 269w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-14-at-09.17.33-746x306.png 746w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-14-at-09.17.33-1376x565.png 1376w\" sizes=\"(max-width: 2792px) 100vw, 2792px\" title=\"\"><figcaption id=\"caption-attachment-583643\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Cardano sharks and whales have continued to buy the token despite the fall in its price. Traders continue to sell heavily in intraday trading sessions. Following significant coin distribution between February 2021 and May 2022, Cardano [ADA] investors that hold over 100,000 ADA coins have again begun accumulating the crypto asset. According to Santiment, these investors have continued to \u201cfill their bags\u201d with ADA despite the steady decline in the altcoin\u2019s value. The coin shaved off 35% of its market [&hellip;]<\/p>\n","protected":false},"author":63,"featured_media":583648,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[825,108074,947,2],"tags":[108432,108431],"_links":{"self":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/583642"}],"collection":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/users\/63"}],"replies":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=583642"}],"version-history":[{"count":4,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/583642\/revisions"}],"predecessor-version":[{"id":583658,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/583642\/revisions\/583658"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media\/583648"}],"wp:attachment":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=583642"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=583642"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=583642"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}