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.
$ADA whale accumulation.
The balance held by addresses with 1m-10m ADA has increased by a whopping 40.65% in just the first month of 2022.
These addresses now collectively hold 24.87% of the circulating supply.
— IntoTheBlock (@intotheblock) February 1, 2022
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.