Cardano Whales Buy 210M ADA as Price Rises 8% on Bullish Signals

Cardano (ADA) has drawn renewed attention as whale activity intensified in recent weeks, with institutional and high-net-worth investors accumulating over 210 million ADA tokens. Whale movements, reported by on-chain analytics platforms such as Santiment and Whale Alert, indicate growing confidence in the asset despite a broader crypto market correction that has pushed ADA below the $1 level [1]. Analyst Ali Martinez noted that 100 million of these tokens were accumulated within just 24 hours, reflecting aggressive buying at dips [1]. A single transaction reported by Whale Alert involved 59 million ADA, valued at $50.24 million, transferred from Bitstamp to an unknown wallet [1].

This buying spree coincides with key bullish developments for Cardano. A “golden cross” pattern, where the 50-week moving average crossed above the 200-week moving average, formed for the first time since 2021. This technical signal has historically preceded significant price rallies, with ADA surging over 80% since its emergence in June [1]. A similar pattern in the daily timeframe led to a 13% price jump earlier in the week [1].

Institutional support is also strengthening. Grayscale, a major player in crypto investment, increased ADA’s weightage in its Smart Contract Platform Fund portfolio, and has filed for a spot Cardano ETF in Delaware. These moves signal increased institutional demand and highlight the potential for regulatory approval by the U.S. Securities and Exchange Commission (SEC) [1]. Analysts suggest that these developments increase the likelihood of ADA price recovery above $1 and a continuation of its bullish trajectory.

Network fundamentals also support optimism. Cardano’s mainnet has processed over 113 million transactions, according to TapTools. This growth underscores the platform’s increasing adoption and technical robustness, positioning it as a leading interoperable blockchain [1].

On-chain and derivatives data present a mixed picture. While open interest in ADA futures has declined across major exchanges—Binance by 4%, OKX by 2%, and Bybit by 3.5%—the price has remained above key moving averages (50-SMA, 100-SMA, and 200-SMA) [1]. The RSI indicator currently stands at 49.88, suggesting that further downward movement remains a possibility. However, open interest on ADA futures has increased by 10.9% in the last 24 hours, to $1.74 billion, signaling renewed speculative interest [1].

ADA price has rallied over 8% in the last week, reaching $0.92 at the time of writing. Trading volume increased by 85% in the same period, with the 24-hour trading range between $0.833 and $0.93 [1]. Analysts have drawn parallels between the current price action and Cardano’s previous bull cycle, suggesting that a repeat of the historical rally could push ADA toward $6 [1].

Source: [1] Will Cardano Price Recover Above $1 as Whales Buy 210M ADA? (https://coinmarketcap.com/community/articles/68a906cf5341ee5140c30687/)