Despite the more than 65% growth of Cardano (ADA) in the past four weeks, major investors are staying on the sidelines and not selling this cryptocurrency.

Santiment reports that starting from mid-November, Cardano sales have been exclusively conducted by small wallets, primarily with balances ranging from 1 to 10 ADA.

The altcoin's capitalization as of December 14 stands at $23.131 billion. The daily number of addresses conducting transactions has increased and reached 58,535.

On December 9, network activity reached its highest levels since May 2023. The average daily count of active ADA wallets was 85,307.

Subsequently, average and large users of the blockchain decided to reduce the number of transactions.

In the first half of December, an increase in the number of transactions with amounts exceeding $100,000 and $1 million was observed in the Cardano network. According to analysts from Santiment, both major investors (whales) and experienced traders (sharks) are accumulating assets.

This strategy of major players indicates their anticipation of reaching new price highs for Cardano cryptocurrency.