- The behavior of the user cohort reflected bullish momentum for ADA.
- The OI in ADA futures rose to the highest level in nearly five months.
Recently Cardano [ADA] again came on the radar of investors who held a substantial chunk of the coin’s circulating supply.
Large holders on accumulation spree
According to a recent X post by on-chain research firm IntoTheBlock, large holders grabbed nearly 1.89 billion ADA coins in the month of October. In terms of market price at press time, the purchased supply amounted to roughly $670 million.
As per IntoTheBlock, large holders are addresses holding over 0.1% of a crypto’s circulating supply. Large Holders Netflow measures the number of inflows minus outflows pertaining to these addresses.
Spikes in this indicator are interpreted as aggressive accumu
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Author: Aniket Verma
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