When we talk about cryptocurrencies whales it has to do with individuals or organizations holding a large amount of a certain type of cryptocurrency.
These individuals or organizations with a large number of coins or tokens can cause a significant impact on the cryptocurrency market prices, either by selling or buying a large amount of those coins or tokens.
Therefore, Cardano whales are big investors with a high amount or stake in ADA, the native token of Cardano. The names of investors are not made known to the general public due to the decentralized nature of cryptocurrencies.
In this guide, I will provide insights into the top 10 cryptocurrencies; these Cardano whales are buying right now in 2022.
• Cardano whales are investors with a high amount of Cardano native token, ADA who can pull or push the price of such cryptocurrency.
• About 800,000 NFTs have been successfully minted on the Cardano blockchain to date.
Top 10 Cryptocurrencies Cardano Whales are Buying right now
1st on the list of the top 10 cryptocurrencies Cardano whales are buying is Solana.
Solana is an open-source blockchain with support for smart contracts, including NFTs, and several decentralized applications, including decentralized finance(Defi).
SOL is the native token of the blockchain, which is used to provide network security and transfer values. Some of the top investors in Solana include venture capital firms like a16z, Alameda Research, Coinfund, etc.
Also on the list is Bitcoin, the largest cryptocurrency in the world. Since it was introduced into the crypto market in 2009, it has witnessed massive growth and support. It has the largest market capitalization, which makes it one of the ideal crypto for Cardano whales in 2022.
In the Bitcoin ecosystem, a whale is considered an investor with 1,000 or more BTC tokens.
According to the crypto whales tracker, whales hold nearly 40% of the available BTC tokens. There were speculations that the inventor of BTC, Satoshi Nakamoto, holds between 75,000 to 1 million BTC, with several others adding it to their balance sheet.
So it’s not surprising that Cardano whales are buying this popular cryptocurrency in 2022.
Ethereum is another top cryptocurrency Cardano whales are buying in 2022. Ethereum has always been on the verge of transitioning from a Proof of work (POW) to a proof of Stake (POS) consensus algorithm for a long time.
As a result, their successful transition to a Proof of Stake is predicted to make the blockchain more secure and scalable.
As a result, it has increased the token’s price, which is why Cardano whales are buying up this cryptocurrency. That is, a lot of Cardano whales are buying massively because of its ETH 2.0 merge and in anticipation of the gains to come as a result of the merge.
The Binance coin is another cryptocurrency that Cardano whales are buying right now. It is the native token of Binance, one of the world’s largest and most popular crypto exchanges.
Within a few months, the Binance coin moved beyond facilitating trades on the Binance to trading, payment processing, and even booking travel arrangements.
The Binance coin was initially developed on the Ethereum network but is now based on Binance. Users of Binance coin receive a discount in transaction fees on any transaction involving Binance coin on the Binance blockchain as an incentive.
The Binance coin can also be traded or exchanged with other cryptocurrencies like Ethereum, Bitcoin, etc.
Battle Infinity is another crypto with massive support from Cardano whales. It is a decentralized blockchain project that allows creators and users to engage in various play-to-earn (P2E) games.
In what it refers to as the “Multiverse”, it hosts fantasy sports games, staking tools, decentralized token swaps, an NFT marketplace, and many more.
The Battle Arena is the main offshoot of Battle Infinity which is a metaverse platform that allows its users to live and exist in a virtual ecosystem playing and winning rewards per game.
IBAT is the utility token used in maintaining the Battle Infinity platform. As a user, you can easily build your favorite characters and avatars on the Battle Market to participate in the metaverse, each with its unique ID.
There is also the staking option where users can deposit some of their IBAT tokens on the Battle Stake mode with the tokens locked up in return for an Annual Percentage Yield (APY).
Dogecoin is also popular among Cardano whales right now. It was designed as a light version of the likes of Litecoin, which also shares similarities with Bitcoin.
Since its introduction, it has attracted a lot of crypto users who are drawn but not particularly serious about crypto but are interested in exciting projects.
It has become one of the largest meme coins and a leading cryptocurrency in the crypto market. The current price of DOGE is $0.08505, with a market cap of $10.25 billion.
Cardano whales are also buying Shiba Inu right now. It is a token designed to serve as an alternative to Dogecoin (DOGE) and is often regarded as the “Doge Killer” it is a community-driven cryptocurrency that enjoys several advanced features of the Ethereum ecosystem on which it is built.
At the time of writing, the price of Shiba INU is $0.00001112 with a market cap of $5.689 billion. It has grown over the years, and some crypto analysts predict that it has the likelihood of becoming the biggest meme coin in the crypto market if supply is reduced.
Second to the last on our list of cryptos Cardano whales are buying right now is APE, the native token of the ApeCoin ecosystem.
ApeCoin (APE) is a decentralized project inspired by the Bored Ape Yacht Club and designed as the utility token of the APE ecosystem and in its governance.
It enables the holders of tokens to participate in the ApeCoin DAO, provides a shared and open currency to be used in the APE ecosystem, and grants them access to exclusive games, merchandise, services, etc. The current price of APE is $4.71 per token, with a market cap of $1.307 billion.
SEE ALSO: All You Need To Know About APE Coin
Also on this list is XRP, the native token of Ripple, a blockchain-based digital payment network. It functions primarily as a payment settlement asset exchange and remittance system.
It aims to be the leading crypto solution for businesses with quick and cost-effective solutions for processing transactions on a global scale. It can also facilitate transactions for fiat currencies, Bitcoin, and several other commodities.
With just a low time frame of 2-5 seconds to process transactions, it charges only $0.0002 per transaction. Currently, XRP trades at $0.4661 with a market capitalization of $23.11billion.
Its ability to easily facilitate exchanges of different currencies, such as fiat and other major cryptocurrencies, has increased value and popularity, making Cardano whales interested in cryptocurrency.
Finally on the list is the Tether, a popular stablecoin designed to leverage the volatility of cryptocurrency trades. It is pegged to the U.S. dollar; as a result, it is unaffected by market volatility which might negatively or positively impact the value of other cryptocurrencies, such as Ethereum and Bitcoin.
Most crypto investors who aren’t willing to take too much risk due to market volatility find Tether favorable.
Cardano is a decentralized blockchain platform known for operating via its proof-of-stake (PoS) consensus.
The blockchain deploys smart contracts to facilitate the creation of different DApps (Decentralized Applications) and Defi protocols, all on its network.
Due to its quick transactions and long-term scalability, it rose to popularity among crypto investors and whales. It is also very popular among developers and has successfully minted over 800,000 NFTs to date.
ADA is the native token of this blockchain protocol, which has provided Cardano users with huge returns since it was released in 2017. At the time of writing, ADA is traded for $0.3932 per token with a market cap of $18 billion.
Frequently Asked Questions (FAQs)
Q1. Are whales buying Shiba Inu?
Yes, whales especially Cardano whales are buying Shiba Inu.
Q2. Which crypto will boom in 2023?
It is difficult to predict cryptocurrencies that will boom in 2023 due to the volatility of the crypto market. Therefore, before you invest in any cryptocurrency, ensure you carry out your own research.
Although the crypto market has been a bit down this year with an extended crypto winter, the market is slowly bouncing back as on-chain activity shows that these whales are buying more coins due to the belief that retail investor capitulation has already occurred, leaving the market with a great opportunity to deliver more gains from the current low price levels.
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