Cardano's ADA Surges 2.36% as Whales Accumulate 120 Million Tokens

Cardano (ADA) experienced a slight decline in trading on Tuesday, despite a strong performance earlier in the week. The broader cryptocurrency market saw a pullback, largely driven by Bitcoin's dip to around $108,923. However, ADA's resilience over the past few days, marked by four consecutive bullish daily candles since Friday, has analysts optimistic about a potential breakout that could challenge its all-time highs.

Popular crypto analyst Javon Marks has reignited bullish sentiment, suggesting that Cardano could surge as much as 666% from current levels. Marks' analysis, based on ADA's previous bull cycle and Fibonacci extension models, indicates that prices could reach and exceed the $5.35 price point, which is the 1.272 Fibonacci Level. This prediction aligns with a similar forecast made by Marks in March, reinforcing his long-term outlook for Cardano.

Marks is not the only analyst turning bullish on ADA. Master Ananda also noted a consistent pattern of higher lows since June 2023, with recent support zones formed between February and April 2025 suggesting an imminent breakout. Ananda tweeted that Cardano looks promising, with $2.65 and $4.29 as the main targets after four weeks of retracement.

Adding to the optimism, analyst Trend Rider highlighted a possible "double bottom" formation in ADA’s chart. This bullish reversal pattern, according to academic research, predicts price increases with about 65% accuracy when confirmed by trading volume. The growing bullish sentiment is also supported by on-chain data, with crypto analyst Ali Martinez revealing that whales have accumulated over 120 million ADA tokens in the past 48 hours. Whale activity of this magnitude often precedes price rallies, signaling rising confidence from influential market players.

Beyond price charts and market speculation, Cardano’s fundamental developments are strengthening the case for a long-term rally. On Monday, Cardano founder Charles Hoskinson announced the launch of “Cardinal,” the blockchain’s first Bitcoin-backed DeFi protocol. Cardinal allows users to engage in decentralized finance using BTC on Cardano without relying on centralized custodians, utilizing advanced cryptographic tools like MuSig2 and wrapped UTXO. The Cardinal protocol enables BTC to be used across DeFi platforms such as MinswapDEX, SundaeSwap, and Fluid Tokens for trading, lending, and collateral, all while preserving full self-custody.

Following the announcement, ADA’s trading volume soared nearly 70% to $839 million, with ADA climbing 2.36% in the past 24 hours to trade at $0.7 at press time. The launch of Cardinal and the accumulation of ADA by whales suggest a strong foundation for Cardano's future growth, potentially leading to a significant rally in the coming months.