• Cardano (ADA) addresses holding at least 10,000 ADA tokens have added 1.03 billion ADA to their collective balance in five months.
• ADA is currently decoupling from Bitcoin’s price action, as it is outperforming the premier crypto with a 6.13% increase in the past 24 hours.
• These investors now hold 32.02 billion ADA, valued at $12.3 billion against prevailing rates.
Cardano Addresses Accumulating Millions of Tokens
Cardano (ADA) addresses holding at least 10,000 tokens have been on an accumulation spree since October last year when the asset dipped. In the past 5 months, these investors have added 1.03 billion ADA to their collective balance – which represents a 3.3% increase in the holdings of these addresses since October 2020.
Break From Bitcoin Price Action
Cardano also appears to be breaking away from bitcoin’s price action since the start of this week; with two consecutive daily winning sessions and a massive 6.07% gain yesterday alone. The asset has also seen a 10.53% increase against the dollar in the past 24 hours and is currently changing hands at $0.386 as of press time – following a drop to $0.3387 yesterday that was followed by a 14.3% appreciation to reach $03873 before slowing down again today..
Collective Balance Reaching All-Time Highs
The collective balance of these holders is now heading towards new all-time highs; with 32 million ADA held collectively by these investors being valued around $12 billion according to current market rates..
Distribution Spree Early 2021
In early 2021, during Cardano’s bull run, these investors embarked on a distribution spree selling off a large portion of their holdings which stopped midway through 2021 resulting in this latest accumulation trend that has gained momentum since October 2020 .
Conclusion
Cardano shows signs of decoupling from bitcoin’s price action as it continues its own bull run; while accumulating millions of tokens held collectively by its high-volume holders who are set to reach new all-time highs soon enough if current trends continue