Cardano’s ADA Whales Offload 270M Tokens, Price Drops 30%

Cardano’s
is currently facing significant challenges, with whales, who control a substantial portion of the supply, showing signs of distress. Wallets holding between 10 million and 100 million ADA control 35.62% of the total supply, making them the most dominant force in Cardano’s on-chain structure. This concentration of holdings sets the stage for sharp directional pivots depending on the flows of these whales.The $0.60 level is barely holding, and without strong support kicking in, it’s looking more like a crack than a bounce. The $1 target, once seen as a psychological milestone, now feels more like a stretch than a setup. Back in mid-January, whales in the 10M–100M ADA bracket started accumulating heavily. Two months later, when ADA clawed its way back to its original cost basis, it began offloading to breakeven. Their share of the supply dropped from 35.51% to 34.41%. The result? ADA slid all the way back to $0.60. But then came another shift. Whales bought the “dip,” pushing their holdings back up to 35.62%. Yet, three months later, the price still sits below their average cost basis, meaning this cohort remains underwater. There’s a solid chance some of them start cutting again to break even. That 270 million ADA dump this week? It could be just the start.
With leverage fading from ADA’s perp markets, it’s clear that futures traders are steering clear of high-risk setups. The lack of speculative appetite is keeping sidelined capital on hold. From a technical lens, RSI is approaching a historically reactive oversold zone. These are levels that have previously triggered sharp mean reversions. But context matters. Last time this setup emerged, Bitcoin [BTC] was breaking above $110k, loosening macro FUD and igniting altcoin rotations. Now, ADA/BTC is retesting February support, but with RSI pinned deep in oversold and volume failing to confirm, momentum remains flat. Without a pickup in relative strength, ADA continues to lag in attracting conviction buyers.
Stack that with a lack of speculative interest, on-chain accumulation, and rotational flows, and the picture turns increasingly fragile. The once-crucial $1 milestone now looks more like resistance than recovery, while growing signs of whale fatigue raise the probability of a capitulation flush, putting ADA’s $0.60 support on thin ice. The whales’ actions and the current market conditions suggest that the $1 target for ADA may be more of a stretch than a realistic goal in the near future. The lack of strong support and the whales’ tendency to offload their holdings to break even indicate that a breakdown could be near. The market’s fragility and the whales’ fatigue further exacerbate the situation, making it increasingly difficult for ADA to regain its momentum and reach the $1 target.
Ask Aime: Cardano's ADA struggles to hold $0.60 as whales' 35% supply control seems to waver, hinting at potential selling pressure.

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