After passing Polkadot earlier this year, Cardano made big headlines after jumping from $ 0.18 to $ 1.49. Immediately after this phase of massive growth, ADA initiated a phase of consolidation. Michaël van de Poppe recently quoted, It is very natural to have a quiet time after a massive impulse movement.
What caused the sudden slowdown in ADA prices?
Cardano was popular and prices skyrocketed in February as major events were planned for the token. Mary Hard Fork, the world’s largest blockchain project in Ethiopia, various other proposals in Africa, rumors of companies with S&P 500 companies, we are some of them. However, due to the postponement of some events, prices appear to be resting and cooling off. In any event, prices are expected to gain momentum and rise over time.
Are Cardano Whales Responsible?
“Changes in the number of wallets in size categories ”were observed by community member Pieter Nierop. This suggests that Cardano whales reduced their populations from February 27 to March 12.
According to statistics and research as of March 12, there were only 8 whales instead of 9 holding between 100 million and 2.5 billion ADA. The number of whales has dropped from 2,294 to 2,259. However, retail investors tend to contribute to more wallets being created. This implies that there are more small businesses and retail investors employing Cardano.
The wallet creation speed is a bit faster. At this speed We will reach over 1.5 million wallets by the end of the year. The percentage of delegated wallets is now at a higher level. Staked ADA went down a bit.
The data also shows that the average number of ADAs in delegated wallets has decreased by 38.24 percent over the past 30 days. However, the number of new wallets created per day shows a favorable increase in the last two weeks of February (11,529 and 10,080).