Blockchain analytics platform Santiment says bagged investors are hoarding massive amounts of Cardano (ADA) despite a stalled crypto market.
The analytics platform say that the number of wallets holding 100,000 or more ADA tokens has risen to 25,294, a number not seen since April 2022.
Santiment notes that this surge in whale and shark portfolios has come despite traders’ negative sentiment toward Cardano, which is down about 35% since it peaked four months ago in 2023.
ADA is trading at $0.28 at the time of writing, down 2.8% in the past 24 hours.
Sanitation too notices that other altcoin projects are experiencing unexpected increases in trading volume.
“The pumps keep coming where many least expect. With Bitcoin jumping back above $30,000 to start the week, assets like Solana, Pepe, Shiba Inu, and HarryPotterObamaSonic10Inu (yes, really) are rising. Track the volume of each project here.”
Sanitation too keep an eye on GitHub development activity in blockchain projects and highlights how blockchain oracle network Chainlink (LINK) has re-entered the top five.
“Top 10 Crypto Assets by Development Activity: Notable GitHub Commits, Last 30 Days:
T1 (tied first) Polkadot DOT
T1 Kusama Network KSM
3 Cardano ADA
4 Hedera HBAR
5 chain link LINK
6 Internet computer ICP
7 SNT status
8 Aptos Labs APT
9 Vega protocol VEGA
10 Cosmos ATOM
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Image generated: Midway through the journey
