According to Flipside Crypto, 7.6 billion ADA was transferred to Binance over the past month than it was withdrawn. Meanwhile, the ADA fell from $ 0.141 on August 14 to $ 0.097 by September 14 – down 31%.
Before the recent drop in the asset’s price, the original Cardano coin was on the rise, triggering the last update on July 29. During the race, ADA managed to gain a foothold in the 10 largest cryptocurrencies by market value, but has since withdrawn.
On August 14, the vast majority of ADA’s active 30-day offerings were owned by users – 11.4 billion out of 12.2 billion. But at the end of the period, there were only 1.5 billion users left. Meanwhile, the Binance platform saw a net inflow of nearly 7 billion ADA’s, while the top owners raised an additional 3 billion ADA’s.
The ADA holders may have decided that it was time for them to pay off some of the gains accrued in the previous months.