HomeBitcoinCardano whales are leaving the sinking ship.

Cardano whales are leaving the sinking ship.

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Cardano has obviously recovered from its latest low, but the weekly loss is still more than 14 percent.

According to some statistics on the channel, the top investors are losing interest in this project. According to FXStreet, the number of whales with 1 million to 10 million ADA has climbed from 2,589 to 2,540 in the last two weeks.

Simultaneously, the number of investors holding 100,000 to 1 million tokens fell from 127,600 to 121,500, while the value of investors holding 10,000 to 100,000 tokens fell from 22,500 to 20,500.

Along with this terrible trend, there is some good news. The number of Cardano wallets has surpassed 3.6 million, and the community of the ADA subsite is also expanding, with the 700,000th user expected soon.

The failure of the Terra blockchain has fueled new claims that Cardano is a full-fledged hoax. The fact that the blockchain is worth $19.5 billion but the DeFi ecosystem is only worth $137 million was offered as a hint.

IOHK CEO Charles Hoskinson said that Cardano had no secrets and that there was no possibility of a fraud.

Cardano has yet to solidify its comeback from its latest low of $0.4033. The 23.6 percent Fibo retracement of $0.6015, on the other hand, is a powerful barrier that has previously been tried multiple times and could not be overcome stably.

While this is the case, additional losses are likely approaching the psychological level of $0.5000 and the current low.

If the bulls can break over this barrier, the upward corrective might continue to the 38.2 percent Fibo retracement of $0.7241.

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