Cardano (ADA) holders keep accumulating the crypto! Why?

In 2024, as the crypto market remains volatile, many Cardano holders continue to purchase ADA. Nearly 23% of Cardano investors have held their tokens for over 5 years! Demonstrating their long-term confidence in the project. This persistent accumulation of ADA by long-term holders is a positive signal for the future of the Cardano blockchain.

Data on Long-Term Crypto Holders

According to data from the startup IntoTheBlock, 23% of Cardano investors have held their ADA for more than 5 years and control 7.085 billion tokens. Since the beginning of 2024, this group has seen its holdings increase by several million ADA, showing sustained interest.

Another segment of 19.75% of Cardano crypto holders has not sold their assets after buying them 6 to 12 months ago. These investors hold around 6.084 billion tokens.

Finally, 16.74% of ADA holders, which is about 5.1 billion tokens, have been preserving their funds for 18 to 24 months. In total, these three categories of long-term holders control nearly 18 billion ADA.

These figures show that despite price volatility, many investors believe in the long-term future of Cardano and continue to buy ADA cryptocurrency. Their sustained interest reinforces the liquidity and stability of the project.

Outlook for the Price of Cardano (ADA)

Currently, the price of ADA is facing a resistance zone between $0.54 and $0.56. Corresponding to nearly 50,000 addresses holding about 2 billion ADA. Crossing this threshold will require a significant resurgence of buyer interest.

If it succeeds, it would pave the way for progress towards $0.68. However, the presence of long-term crypto holders provides a safety net in case of a price correction, thanks to their lower propensity to sell their ADA.

In the longer term, the persistent accumulation of ADA by these holders reflects their confidence in the ultimate success of the Cardano project. This solid base could spur the adoption of the Cardano blockchain over the next few years.

Despite an ever-changing crypto market, long-term Cardano holders continue to bet on the project by purchasing ADA in 2024. Their ongoing support demonstrates their belief in the potential of the blockchain Cardano to establish itself in the long term.