Cardano Whales Offload 180M ADA This Week As Price Dips
Cardano whales have offloaded 180 million ADA, contributing to the tokens 9.62% drop over the past week.Currently trading at $1, Cardano remains distant from reclaiming its all-time high of $3.09. Recent price action suggests a dip in user engagement, with the token remaining within a narrow trading range.While ADA recorded a 3.38% gain in the last 24 hours, it remains down 9.62% over the past week. Amid this short-term uptick, market data indicates that whale investors have offloaded over 180 million ADA within the week, contributing to downward pressure.Cardano Whale ActivityData from Santiment shared by analyst Ali Martinez highlights the correlation between ADA price action and whale holdings. Between early December and mid-December 2024, ADA fell from $1.12 to below $0.90. Interestingly, large holders with wallets containing 100 million to 1 billion ADA mostly maintained stable balances.From late December 2024 to early January 2025, ADA traded erratically below $1.00, with whale holdings under 3.34 billion ADA.A shift occurred between January 3 and January 14, when ADA surged from $0.85 to over $1.10. During this phase, whale holdings increased from 3.2 billion to more than 3.5 billion ADA. However, whale behavior reversed course this week. After ADA price reached $1.16, it retreated to $0.99, and ADA balances of whales fell sharply from 3.5 billion ADA to 3.32 billion ADA. In particular, Cardano whales have dumped over 180 million ADA tokens this week.
Text source: The Crypto Basic
