The recent dynamics of Cardano’s (ADA) price follow the general trend observed in the wider crypto market as its price has rapidly declined by 5% during the past 7 days, indicating a serious market correction.
While minor holders express their concerns regarding the future of cryptocurrency and its investment potential, large holders (a.k.a whales) continue accumulating additional reserves. In particular, the current amount of ADA held by holders owning between 10,000 and 1 million ADA coins equals 113% of the tier accumulated by them by January 17th.
This statistic implies that large holders have doubled their holdings in just 10 days, corresponding to over $50 million, according to the current cryptocurrency prices in the market. Such a strategy indicates that most investors continue being optimistic about ADA’s growth potential in the long term.