The relevant indicators here are the ETH and ADA Large Holder Share Top100 metrics, which track the percentage of Ethereum’s and Cardano’s total supplies held by the top largest wallets. This metric is particularly useful in figuring out if the major holders are accumulating or distributing their coins.
The crypto pundit went on to point out that these large addresses are associated with exchanges, but it does not take away the fact that Cardano seems more attractive at the moment. “From this perspective, Cardano currently looks more attractive based on large player behavior,” Wedson said.
In what seemed like salient advice, Wedson rehashed the importance of closely following the smart moves these crypto whales make, as they may reveal where the market is headed.
At press time, Ethereum, the “king of altcoins”, is valued at about $3,766, reflecting a 0.6% price increase in the past 24 hours. According to CoinGecko data, the price of ETH has had a slightly impressive performance of over 3% in the past week.
Cardano, on the other hand, is worth $0.8297, reflecting a mere 0.6% price jump in the past 24 hours. ADA’s 7-day action was also barely impressive, ending the week with about a 1.5% loss of its value.
