Crypto Analytics: Cardano "Experiences Growing Institutional Demand"

Crypto Analytics: Cardano “Experiences Growing Institutional Demand”

Tuesday (March 29) launch of cryptanalysis IntoTheBlock (ITB) commented on the growing institutional commitment to Cardano’s $ ADA brand.

ITB calls itself “an intelligence company that uses machine learning and statistical modeling to deliver practical intelligence to cryptographic assets.”

Here are a few insights about $ ADA from ITB:

  • 34% “in cash” (i.e. current price> average price); 55% of the “money” (ie the current price
  • the concentration of large holders – i.e. the total ownership of “whales (addresses that own more than 1% of the supply in circulation) and investors (addresses that own 0.1-1% of the round)” is 10%.
  • The 30-day price correlation with Bitcoin is 0.93
  • composition of holders by period of ownership: 10% has been held for more than one year; 76% have been in possession for one to twelve months; and 14% have been in force for less than a month
  • In the last 14 days, 56% of transactions took place during Western and 44% during Eastern trading hours.

On March 29, ITB tweeted that “the number of transactions within the chain> $ 100,000 has increased 50-fold in 2022 alone” and on March 28, “a total of $ 69.09 billion $ ADA carried over at these major events, representing 99% of the total volume of the chain.

According to DeFi Llama, the total value of Cardano’s DeFi protocols locked (TVL) is currently (March 30 at 5.50 UTC) $ 302.37 million (the all-time high of $ 326 million was set on March 24).

Source: DeFi Lama

Speaking at the keynote address of Binance Blockchain Week Dubai 2022 (March 28-30), IOG founder and CEO Charles Hoskinson said of decentralization:

If we are really decentralized, we need to somehow get together and figure this out. We need to write some kind of constitution for these things; we have to decide “What is the Bill of Rights on the use of cryptocurrency and blockchain technology?”…

There are two ways ahead of us – one, we maintain our honesty and look at decentralization, we find these things, we understand these things, ”he said. “Or two, we ignore it. In that case, we have asset managers, escort keys, highly centralized, highly optimized consensus algorithms that can be reset at any time. Few control many.

This is a decision, and I am not making that decision – you are all making it.

According to TradingView, on the cryptographic exchange Coinbase, $ ADA has risen from $ 0.8651 to $ 1.1947 (where it is 6.00 UTC on March 30), an increase of 36.4 percent.

Source: One month ADA-USD (Coinbase) price chart with TradingView


The views and opinions expressed by the author or other persons mentioned in this article are for informational purposes only and do not constitute financial, investment or other advice. There is a risk of financial loss from investing in or trading in cryptographic assets.

Image credit

Recommended image author “Quantitative”Through Remove spills

h/t – CryptoGlobe


Thomas Miles

Cryptocurrency is the most recently discovered currency which will be likely at the help of modernization across the next few decades. With a limited control from the government, the crypto market is independent of many features of a sound market as we know it. Thomas brings these stories to us by weaving them into articles of general importance to all those looking at the fluctuations in the market, or new entries. Thomas is also the founder of Bulletin Bits and is an excellent leader. His leadership is the kind that makes him the most knowledgeable and experienced on the team. His wonderful work ethic and attitude are worthy of imitation!

Leave a Reply

Your email address will not be published.