12.47 Billion ADA! Whales Keep Buying Cardano And Making Their Portfolio Strong! (2024)

IntoTheBlock, a cryptocurrency company, has shared that Cardano’s native coin ADA has experienced exponential growth since the beginning of the year.

Crypto addresses now hold 12.19 billion ADA coins, up from 8.09 billion cash.

The amount of ADA deposited in these wallets reached an all-time high on March 1 of 12.47 billion ADA.

Smaller investors grab 16 million ADA within 24 hours

On Wednesday, U.Today reported that according to Santiment Analytics Company, several wallets that store from 100,000 to 1 million ADA had grabbed 16,000,000 ADA within just twenty-four hours.

Wallets for the Cardano cryptocurrency have recently added ADA holdings as well. Santiment announced on February 23 that wallets with balances of 10,000 to 100,000 ADA purchased another 6 percent of the circulating ADA supply in the past five weeks.

Drake Loses a $275,000 Bitcoin Bet.

Rapper Drake has lost approximately $275,000 by betting on American mixed martial artist Jorge Masvidal in Bitcoin, the largest cryptocurrency.

He expected Masvidal to beat Covingto at UFC 272 on Saturday night at the T-Mobile arena in Las Vegas.

Because Drake bet on the underdog, he could have won more than $700,000.

Covingto won the grudge match unanimously after dominating every round, making it a disappointment for the superstar rapper.

Drake has put his bitcoin on the line before. His bet on Super Bowl LVI, where the Los Angeles Rams won against the Cincinnati Bengals, yielded $381,000 in the largest cryptocurrency.

It was discovered. However, that Stake, which facilitated Drake’s wagers, was not licensed in Ontario. Hence, his bet may have been considered illegal.

It was revealed by the American rapper Kodak Black that Drake provided him a $250,000 Bitcoin gift.

Cardano (ADA) Becomes Most Used Blockchain with Lowest Fees: Data

Cardano (ADA) daily transaction volume prints new highs

Twitter user @Haskellion shared data from Messari’s terminal with an anonymous Cardano (ADA) enthusiast. In this case, the blockchain shows the number of transactions handled and fees collected in the past 24 hours.

Messari data indicates Cardano (ADA) surpassed Bitcoin (BTC) in transaction volume in USD during the 24 hours. Bitcoiners sent $33.27 billion, while Danes sent $33.45 billion.

Additionally, the Bitcoin (BTC) network generated 23x more fees than Cardano (ADA): Bitcoin generated $860,000 in fees, while Cardano generated $38,000.

As a context, Cardano’s biggest competitor, Ethereum (ETH), charged its clients $14.7 million in fees just the other day.

Cardano-Ergo DEX is on the eve of main net launch.

It is most likely attributable to the entry of liquidity into the ecosystem formed by DeFi protocols based on Cardano.

Cardano’s DEX, AdaSwap, is now backed by award-winning world cinema star Gal Gadot, as previously covered by U.Today.

One more Cardano-based DeFi protocol, ErgoDEX, is also getting close to being released as a mainnet, bridging Cardano (ADA) and Ergo.

An ErgoDEX team member provided a sneak preview: ErgoDEX will feature decentralized exchange functions and LP modules, among other DeFi-specific features.

Metaverses in Web3 Might Be “1 or 10” Years Away: Seasoned Investor

Metaverses: Infrastructure, experience layer, value-add layer

According to his post, Metaverses are models of digital virtual worlds that the users own through cryptos or non-fungible tokens.

Start-ups that he discussed fall into three categories: infrastructure, experience layer, and value-added layer (guilds, studios, marketplaces).

As a whole, “Metaverses” look like MMORPGs with blockchain aspects. According to Mr. Choi, this is similar to the diversity of L1s in 2017.

Among the most successful decentralized autonomous organizations (DAOs), in his opinion, are the play-to-earn guilds.

Experiences instead of OpenSea links

He is confident that Metaverse’s most impressive products are yet to come. Metaverse’s developers should take a cue from Facebook by considering their approaches.

The next gamechanger could be an immersive infrastructure framework that serves everyone:

Meta is seeking to create an open alternative to what is being proposed by the moonshot initiative. This is a platform where anyone can create social, entertainment, work, education & commerce experiences online, and anyone can use them.

However, it is not easy to predict the correct time frame for the creation of new ideas in the metaverse segment:

The idea could take 1, or 5, or 10 years.