Whale and shark addresses holding between 100,000 and 10 million ADA (Cardano cryptocurrency) have been buying the dip, leading to a surge in the rate of ADA’s circulating supply held by these addresses. Transaction volume has also been consistently rising, despite occasional price declines. These addresses have accumulated $116.1 million worth of ADA since May 21 and collectively hold over 34% of the total ADA supply. Weekly transaction volume has reached a level unseen since September 2021. However, the decline in ADA’s price has led to a reduction in the number of ADA holders. The network’s development activity remains steady, but the challenges of fluctuating market conditions persist.

AI Sentiment: Positive