Santiment has reported that Cardano (ADA) is standing out in the cryptocurrency market, drawing attention with its performance.
Growing Interest in Cardano
According to the analytics firm Santiment, investment interest around Cardano has increased significantly in recent months, particularly due to the activity of large holders.
Analysis of Whale and Shark Activity
Since the end of November 2023, the number of crypto whales holding at least 1 million ADA has increased notably. Over these 15 months, these major holders added an additional 1.41 billion ADA to their wallets, controlling 2.35% of the total supply.
Future Prospects for Cardano
Meanwhile, Grayscale has filed an application with the SEC for a Cardano ETF. Although the SEC previously viewed ADA as a security, the new management is more crypto-friendly, and many expect the ETF discussion to receive approval.
With ADA being accumulated by large investors, the prospect of Cardano's further growth looks quite positive, although regulatory issues still remain unresolved.
