Cardano (ADA) whales distributed their holdings at a loss consistently throughout June.
Cardano whale transactions hit a 12-month peak last week as large wallet holders continued to shed ADA at a loss. ADA holders have realized nearly $40 million in losses in June. ADA wallets holding between 100,000 to 1 million and 10 million to 100 million tokens accumulated the altcoin. Cardano whales distributed their holdings at a loss consistently throughout June. On-chain data from Santiment shows that two segments of whales have accumulated the altcoin while others realized losses on ADA.
Capitulation occurs during a phase of panic selling amidst price decline. It is typically followed by a resurgence in the asset’s price. Cardano whale transactions , NRPL Additionally, important changes occurred in Cardano’s supply distribution, as witnessed by Santiment. The cohort of whales holding between 100 million and 1 billion ADA tokens dramatically added to their holdings as 340 million Cardano was accumulated between May 29 and 30.
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