Major Cardano Investors Accumulate Billions Amid Market Downturn

While Cardano’s price faces significant selling pressure, a notable divergence is occurring behind the scenes. Major cryptocurrency holders are accumulating substantial ADA positions despite the prevailing market pessimism. Blockchain analytics reveal that whale wallets have purchased approximately 348 million ADA tokens, valued at around $204 million, within a brief period following recent price declines.

Currently trading within a crucial support zone near $0.51, ADA has experienced weekly losses exceeding 10% alongside rising trading volume, indicating dominant selling activity. The derivatives market reflects similar sentiment, with negative funding rates suggesting increased short positioning.

However, on-chain data presents a contrasting narrative. According to analytics firm Santiment, wallets holding between 100,000 and 100 million ADA—categorized as Read more...