Analysis Company Announced That Big Whales and Sharks Are in a Mega Accumulation Stage in Surprise Altcoin!

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According to the latest sharing by the cryptocurrency analysis company Santiment, Cardano (ADA) has been attracting attention with its performance compared to the rest of the cryptocurrency market in recent times.

The analysis firm argued that in order to understand the future situation of Cardano, it is necessary to focus on whale and shark wallets representing smaller investors.

According to analysts, the number of crypto whales holding at least 1 million ADA coins in their wallets has been steadily increasing since the end of November 2023. During this 15-month period, whale wallets have collected an additional 1.41 billion ADA in total, thereby gaining control of 2.35% of the total supply.

According to Santiment, despite all the volatility, the ADA price surged by 107% during this period of accumulation by whale and shark investors.

On the other hand, Grayscale recently applied to the SEC for a Cardano Spot ETF product. Given that ADA has been previously considered a security by the SEC, the approval process may take a bit longer, but under the new crypto-friendly management, almost all major cryptocurrencies are expected to have an ETF.

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