Cardano Whales Buy 180 Million Tokens Amid 6.53% Weekly Price Decline

Large cryptocurrency investors have purchased over 180 million Cardano (ADA) tokens in just one week. This significant accumulation comes as the ADA price faces downward pressure, trading at $0.7516 with a 6.53% weekly decline. Market observers note that such whale activity often precedes significant price movements in the cryptocurrency space. The buying spree occurs amid growing anticipation for regulatory developments surrounding Cardano’s potential ETF approval.

Community sentiment remains remarkably bullish, with over 90% of investors expressing a positive outlook for ADA’s prospects. This bullish sentiment is reflected in ADA's ranking as the second most voted cryptocurrency on CoinMarketCap’s most-voted crypto list. The disconnect between price performance and sentiment suggests underlying strength in Cardano’s fundamental value proposition, with investors focused on long-term potential rather than short-term market fluctuations.

Current Cardano price data shows ADA trading between $0.7316 and $0.8313 over the past week. The token faces immediate resistance at $0.762 and support at $0.7347. Despite the recent 6.53% weekly decline, the ADA price performance lags behind the broader cryptocurrency market, which declined only 1.90% weekly. Smart contract platform cryptocurrencies, Cardano’s direct competitors, dropped merely 0.10% during the same period.

The Securities and Exchange Commission extended Grayscale’s Cardano ETF review period beyond the May 29, 2025, deadline. The next decision deadline falls on August 27, 2025, marking 180 days from the original filing date. The final deadline occurs on October 26, 2025, representing the absolute maximum 240-day review period. Grayscale filed the Cardano ETF proposal on February 10, 2025, seeking to track ADA price through major exchange indices. The proposed structure would allow investors to gain Cardano exposure through traditional brokerage accounts without directly holding ADA tokens.

The SEC’s extension pattern mirrors previous cryptocurrency ETF reviews, suggesting a thorough evaluation of market manipulation concerns and investor protection measures. Most crypto ETF applications utilize the full 240-day review period before receiving final approval or denial decisions. This extension has heightened anticipation among investors, who are closely monitoring the regulatory developments that could significantly impact the future of Cardano.