Cardano Whales Buy 200 Million ADA in 48 Hours Amid Price Dip

Cardano (ADA) whales have been aggressively accumulating over 200 million tokens within a 48-hour window, according to recent on-chain data. The purchases were made during a price dip, with large holders—defined as those holding between 100 million and 1 billion ADA—adding to their portfolios since late July. This activity intensified in the final week of July and into early August, as the price of ADA dropped to $0.72 before rebounding to $0.82 [1].

The buying pattern mirrors a previous accumulation of 180 million ADA reported earlier in the year, suggesting that institutional or high-net-worth investors continue to view Cardano as a strategic long-term hold. On-chain indicators show that these tokens are being transferred from exchanges into private wallets, reinforcing the belief that whales are positioning for future price appreciation rather than short-term trading.

The trend of ADA leaving exchanges for cold storage has persisted since mid-October 2024, when the token’s price rose from $0.26 to $0.35. Despite periodic inflows—most notably in late February when more than $100 million entered exchanges—the overall netflow has remained negative, indicating a consistent preference for off-exchange holding [1]. This pattern has been particularly evident from March to May, during which ADA traded between $0.40 and $0.55, and in late June and July, when the price approached $0.90 before retreating.

ADA’s current price of $0.8210 reflects a 1.91% gain over the past 24 hours, with a market capitalization of $29.08 billion. However, the 24-hour trading volume has declined by 6.26% compared to the previous day, signaling a slowdown in short-term speculative activity.

The recent accumulation by whales aligns with broader trends in the crypto market, where large investors often use price dips as opportunities to build positions. This behavior is closely watched by traders and analysts as an indicator of market sentiment. While the data does not confirm specific investment theses, it points to a growing narrative of confidence in Cardano’s fundamental strengths, including its focus on scalable and sustainable blockchain solutions.

Source: [1] What Do Whales Know? 200 Million ADA Bought in 48 Hours, On the Dip (https://coinedition.com/what-do-whales-know-200-million-ada-bought-in-48-hours-on-the-dip/)