LATEST: Whales Show Strong Interest in Cardano’s ADA, Investing Over $600 Million

Cardano’s native token ADA has attracted significant investment, totaling over $600 million, primarily from heavyweight investors within the $0.249 to $0.271 price range, as reported by analytics firm IntoTheBlock. Analysis of ADA’s ownership distribution shows varying dynamics, with small-scale holders experiencing a marginal decrease, while those with larger holdings, especially over $10 million, are notably bullish. Cardano’s rise in total value locked (TVL) indicates growing interest in its DeFi sector, potentially challenging Bitcoin’s position in the DeFi hierarchy. Despite this activity, ADA remains relatively stable at $0.337225 with a $11 billion market cap.

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