Hodlers increased their holdings in Cardano since the start of 2022

by in Cryptocurrency News


Altcoin Cardano (ADA) has fallen 3% to $1.15 over the past week. ADA is ranked ninth in the ranking of the largest digital currencies.

All categories of investors, including the so-called whales, took advantage of the recent fall in the value of the altcoin.

The addresses of such cryptocurrency holders control from 1 million to 10 million coins. Since March 21, the number of such wallets has grown by another 42, popular analyst Ali Martinez reported last week.

The latest data from IntoTheBlock shows that long-term investors or hodlers bought the recent dip and built up their holdings in Cardano significantly.

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There are 5.09 million addresses registered on the blockchain with different amounts of cryptocurrency. Since the beginning of January, the number of non-zero ADA wallets has increased by 48.8%, according to the researchers' report.

According to CoinGlass, open interest in Cardano futures this week hit the highest since mid-January 2022. The number of open contracts increased to $578.217 million.

On the Binance and FTX exchanges, interest in ADA futures reached $267.56 million and $94.18 million, respectively, on April 6.