Cardano Whales Accumulate 120 Million ADA in Two Weeks

Cardano (ADA) has recently garnered significant attention due to a substantial accumulation by whales, who have collectively acquired over 120 million ADA in just the past two weeks. This development, highlighted by prominent crypto analyst Ali, indicates a notable shift in investor sentiment, with large players positioning themselves for a potential upward price movement.

According to Ali’s analysis, this recent buying spree is part of a broader trend of strategic accumulation by high-net-worth holders. These investors are not only buying during price dips but are also actively consolidating their positions despite the current price consolidation. This behavior suggests a growing confidence in ADA’s long-term value proposition, as whales typically accumulate when they anticipate future price appreciation.

On-chain analytics platforms, including IntoTheBlock, have confirmed Ali’s findings. Wallets holding between 1 million and 10 million ADA have shown a marked increase in holdings since late June. This spike in accumulation corresponds with a sharp decline in ADA held on exchanges, indicating that whales are moving their tokens into long-term cold storage, another bullish signal.

From a technical standpoint, ADA is currently trading in a tight range between $0.66 and $0.74, with $0.70 serving as a critical resistance level. Analysts note that this zone has capped several recent rally attempts, making it a key area to watch. A decisive breakout above this level could open the door for a move toward $0.83 and potentially $0.91, levels that align with historical Fibonacci retracement targets.

The Relative Strength Index (RSI) remains neutral but has shown bullish divergence on lower timeframes, while rising volume and positive funding rates suggest growing market interest. If price action is confirmed by strong on-chain flows, ADA may soon escape the sideways trend it has followed for much of Q2.

Beyond technicals, Cardano’s growing ecosystem is another factor attracting whale attention. Developments like Cardinal, which aims to bring Bitcoin liquidity into Cardano’s DeFi ecosystem, have strengthened the blockchain’s appeal. Additionally, the rising Total Value Locked (TVL) on Cardano-based platforms, now hovering near all-time highs, demonstrates increasing user and developer engagement.

There is also growing optimism around the potential for a Cardano Spot ETF soon, especially in the wake of multiple Bitcoin and Ethereum ETF approvals in global markets. Analysts have suggested ADA could be among the next wave of crypto assets to gain institutional product access, which may explain the strategic positioning by whales.

While Cardano still faces strong resistance at key price levels, the scale of recent whale accumulation cannot be ignored. Ali’s observation is backed by clear on-chain evidence, and if market momentum aligns with the current buying trend, ADA could be poised for a meaningful breakout in the weeks ahead.

Investors should keep a close eye on whether ADA can hold above $0.70 and whether whale activity continues at this scale. If both conditions hold, Cardano may be entering a new phase of its market cycle, one marked by institutional accumulation and broader price expansion.