#Cardano short-term holders (STHs) have added over 3 billion ADA to their stash since October, but history suggests this could be concerning.
The broader market recovery has so far benefited Cardano (ADA), as the altcoin leverages the ongoing momentum to recover the pivotal $1 price territory after giving it up days ago.
Cardano STHs Add 3B+ ADA in November
In today’s ADA news now, Amid this upsurge, the Cardano network appears to be welcoming new investors. Data from IntoTheBlock indicates that traders (investors who have held ADA for less than a month) now hold 8.42 billion worth $9 billion at press time, marking an 8-month peak in their balance.
The last time this tier of investors held this much balance was in March when ADA traded for $0.6208. The current 8.42 billion ADA figure suggests that these addresses procured 3.15 billion ADA this month, as their initial holdings stood at 5.27 billion ADA on Nov. 5.
Recall that Nov. 5 marked the decisive moment in the ongoing market uptrend, with pro-crypto Donald Trump’s election victory triggering a bull phase amid large accumulations, including the purchases by short-term ADA holders.
