Analytics Firm: Giant Investors Flock To This Altcoin Project!

Analytics Firm: Giant Investors Flock To This Altcoin Project!

In the last month, giant investors, namely whales, increased their savings by 40 percent. A new report from on-chain analytics firm IntoTheBlock shows that millionaire cryptocurrency investors are actively investing in this popular altcoin. Giant investors continue to flock to ADA despite the constant price movement in Cardano (ADA).

They hold 24.7 percent of the circulating supply

On-chain analytics firm IntoTheBlock stated that the balance of 1-10 million addresses holding ADA has increased by 40.65 percent in the first month of 2022. It is known that these addresses currently collectively hold 24.7 percent of the circulating supply, that is, they have 33.57 billion ADA. IntoTheBlock's tweet includes the following words;

$ADA whale accumulation.

The balance held by addresses with 1m-10m ADA has increased by a whopping 40.65% in just the first month of 2022.

These addresses now collectively hold 24.87% of the circulating supply.

Chart: https://t.co/CZUXvzQpS0 pic.twitter.com/TAubclrHYW

— IntoTheBlock (@intotheblock) February 1, 2022

Cardano seems to have accumulations from different layers of whales. It reported that Cardano addresses with balances between 10,000 and 1,000,000 ADA have increased by an oddly 15,000 percent since mid-December 2021. Investors in this category doubled their holdings, accumulating $53.6 million in tokens at the end of January.

Network adjustments to altcoin project on the way

Following the latest parameter updates while the clarifications came from Cardano, Tim Harrison, Director of Marketing and Communications at IOHK, added that more network adjustments could come before the week ends.

IOHK states that it will continue to consistently optimize operations for Cardano (ADA) through a series of measured steps, and some scaling will come to Cardano for future growth as demand increases. As we previously reported on cryptoify.blogspot.com, changes were introduced with the launch of the 1.33.0 node in the first month of the new year, allowing changes to some network parameters, including block size and memory units. Tim Harrison tweeted:

IOHK states that it will continue to consistently optimize operations for Cardano (ADA) through a series of measured steps, and some scaling will come to Cardano for future growth as demand increases. As we previously reported on cryptoify.blogspot.com, changes were introduced with the launch of the 1.33.0 node in the first month of the new year, allowing changes to some network parameters, including block size and memory units. Tim Harrison tweeted:

Further network adjustments incoming before the weekend ⬇️ https://t.co/3IpSPeM3XU

— Tim Harrison (@timbharrison) February 1, 2022

Recently, IOHK also announced that the block size of the blockchain will increase by 11 percent as part of its network optimization efforts. The explanations are that the total block size will increase from 72KB to 80KB, so this enhancement indicates that Cardano's blocks will now be capable of handling more transactions. An improvement in the consensus layer that facilitates faster block propagation, this pipeline is one of the major scaling improvements to be deployed in 2022. 

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