Cardano Whales Accumulate 200M ADA as Bulls Eye $10 Price Target

Cardano (ADA) is drawing renewed attention from market observers, with prominent crypto analyst Dan Gambardello forecasting a potential 10x price rally that could push the token toward $10 in the coming months. This projection is based on a combination of on-chain activity, technical patterns, and market sentiment that suggest a strong bullish outlook for the third-largest cryptocurrency by market capitalization [1].

According to recent on-chain data, Cardano whales—wallets holding between 100 million and 1 billion ADA—have accumulated an additional 200 million ADA in just two days, increasing their total holdings to 3.72 billion coins [1]. This aggressive accumulation has been accompanied by a significant rise in ADA’s Futures Open Interest, which has surged from $238 million in November 2024 to approximately $1.41 billion as of August 2025 [1].

The technical outlook for ADA has also turned bullish. A “golden cross” between the 50 and 100-day Simple Moving Averages was recorded, signaling short- to mid-term buying momentum. The weekly MACD indicator has also provided a buy signal, with the MACD line crossing above the zero line amid rising bullish histograms [1]. These technical indicators align with a fractal pattern observed in the 2021 bull cycle, which Gambardello has cited as a basis for his $5 to $10 price forecast [1].

Fundamental developments are also supporting a positive narrative for ADA. The Cardano network is preparing for the Midnight Upgrade, a major milestone expected to enhance on-chain activity and accelerate mainstream adoption. The timing of this upgrade, coupled with speculative optimism around a potential U.S. spot ADA ETF approval, has further fueled bullish sentiment among investors and analysts alike [1].

While the $10 price target remains speculative and subject to market conditions, the confluence of whale activity, technical strength, and upcoming upgrades suggests that Cardano could be entering a period of heightened volatility and price appreciation. Investors are advised to carefully assess the risks associated with such a forecast and to conduct their own research before making any investment decisions [1].