- Cardano (ADA) faces a 4% weekly price decline, dropping to $0.2476.
- Cheeky Crypto examines wallet data, raising questions about ADA whale sell-offs.
- Some ADA enthusiasts dispute claims of significant investors selling off their ADA holdings.
Over the past week, the Charles Hoskinson-led blockchain project Cardano (ADA) saw a negative growth of nearly 4%, putting its price at $0.2476, while crypto market participants traded below $69 million worth of the digital asset.
Amid ADA’s unsavory performance, Cheeky Crypto, a well-known crypto-analysis channel on YouTube, argued that whales or significant investors in Cardano are selling the coin en masse. Before Cheeky Crypto came to its conclusion, it analyzed wallets holding ADA in various tiers, including those with a portfolio of above 100 ADA alongside holders of over 10,000, 100,000, and one million ADA tokens.
The analysis covered various time frames. It included the percentage change in the last week, 30 days, six months, and 365 days. Cheeky Crypto observed changes in the wallet tier of those holding above 100 and 1,000 ADA tokens.
The presenter acknowledged that the count of this category of investo…
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