Cardano Investors Embark on a Buying Spree Despite Subdued ADA 

Cardano ADA Cryptocurrency. coin growth chart on the exchange, chart. High quality illustration

The balances held by accounts with at most 10 million ADA jumped by 40.65% in January to account for 24.87% of the total circulating tokens, despite volatility.

Source: Twitter

ADAUSD is down -2.64%

The investors almost doubled their stake in ADA, which has a circulating supply of 33.57 billion tokens, amassing $53.6 million worth of assets at the end of January.

The whale addresses continue to grow on Cardano despite the digital asset dropping to about $0.92 in January 2022. ADA is now trading at $1.06.

The news comes amid rumored upcoming network adjustments that would see the block size increased from 72KB to 80KB.

The Marketing and Communications Director at InputOutputHK, Tim Harrison, says that further protocol adjustment that would see Cardano increase capacity was in the offing.

The step would enable Cardano to power more transactions and improve the consensus aspect, an approach seen as a key improvement in 2022.


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