Dear Cardano [ADA] holders, this is the real state of whaling around
According to Messari, ADA addresses holding over $10 million worth of ADA have declined gradually since 25 April. In fact, with 266 addresses noted at press time, a 62% decline in the number of this category of whales was logged.
Needless to say, this group of whales wields significant impact on the cryptocurrency’s price action. Ergo, in correspondence with the fall in these whales’ holdings, ADA’s price action declined too.
Source: Messari
When looked at closely, data from CoinMarketCap revealed a 56% drop in the price of ADA over the said period. With the date of Cardano’s Vasil Hard Fork largely unknown, the market has been flashing mixed sentiments of late.
As for the blockchain, daily revenue registered has declined by 63.9% in the last 90 days and by 41.7% in the last 180 days. After logging a daily revenue high of $60,339 on 15 February, total daily revenue has since dropped by 81%.
In fact, as of 12 August, Cardano was seeing a total revenue of $11,000.
Source: Token Terminal
Since the beginning of the year, the total fees paid to miners on the Cardano blockchain have declined steadily. Towards the beginning of the year, this stood at $31,000.
On 12 August, however, the total revenue paid out to miners was $11,000, dropping by 64%. In the last seven days, figures for the same have fallen by 6.17%. In fact, it has dropped by 10.61% in the last 30 days and 58.80% over the past year.
After recording a high of $1.21 on 4 April, ADA’s price has declined by 53% on the charts. Average transaction fees on the network have also declined by 67% since.
At press time, the average transaction fee on the Cardano Network stood at $0.20, dropping by 55.95% over the last 365 days.
Source: Messari
Here, it’s worth pointing out that
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