Cardano Whales Now Take Advantage Of The Recent Price Dip

Cardano whales now take advantage of the recent price dip, buying over 130 million ADA.

Cardano (ADA) has seen a remarkable surge, increasing by 21.15% over the past week and 10.19% in just the last 24 hours.

Currently ranked as the 9th largest cryptocurrency by market capitalization, ADA is trading above $1, showcasing its resilience following a prior phase of consolidation.

Recent analysis indicates that significant whale activity has been a driving force behind this price rally.

Notably, large investors have accumulated over 130 million ADA during recent dips.

According to analyst Ali Martinez, this accumulation phase began in early November and continued until around November 12.

The subsequent rise in ADA’s price suggests that these whales anticipated a bullish breakout.

After reaching a peak near $1.10, there was a slight decline in whale holdings—likely due to profit-taking.

However, as ADA’s price fell below $0.80 on November 20, renewed buying interest emerged among these large holders.

Although the pace of accumulation has tapered off recently, the initial spike highlights a strong interest in ADA during price corrections.

On-chain indicators further reinforce this trend.

The accumulation/distribution (A/D) indicator from TradingView showed a significant uptick when ADA was priced around $0.30, climbing from 12.00 billion to 12.13 billion.

This increase in the accumulation line, which had been stable for months, preceded the recent price breakout, underscoring the impact of large holders on market movements.

Moreover, statistics from IntoTheBlock reveal a 35.54% rise in inflows from large holders over the past week, indicating a sustained interest in ADA.

Long-term metrics also paint a positive picture, with a staggering 30-day inflow increase of 51,478.87% and a 90-day rise of 23,448.85%.

These figures suggest a broader trend of accumulation, reflecting growing confidence in Cardano’s long-term performance.

ADA is currently trading at $1.01.

For more Daily Crypto News and updates like this, join the newsletter or opt-in for push notifications.

Follow us on CoinMarketCap.

Also Read: Cardano Has Now Achieved The “A” Status

About The Author

Frank Nez

Frank Nez is an American journalist whose research has been cited by SEC and Congressional reports. Frank Nez has been featured by prominent outlets such as TheStreet and NewsBreak. ‘Daily Crypto News’ is now an official CoinMarketCap news source.

See author's posts