Whales Deploy Over $110M to Accumulate Cardano: Is a Fresh Pump Coming?
As Cardano continues its consolidation phase, prominent investors are leveraging this moment to load up on their holdings.Market watcher Ali Martinez drew attention to this development in a tweet, citing data from the intelligence platform Santiment. According to the disclosure, whales have accumulated more than 100 million ADA in the last few days.Notably, these are high-net-worth individuals who typically hold between 100 million to 1 billion Cardano tokens. They deployed an additional $110 million to buy ADA when the token was just above $1. As of Thursday, when the trend was observed, their cumulative holdings expanded to 3.26 billion ADA tokens.Typical Patterns of Cardano Whales During Dips and UptrendsInterestingly, the accompanying chart pointed to a consistent pattern in whales accumulation trend and the subsequent price action of ADA. It depicted that, over the last 30 days, these whales often accumulate ADA during dips and sell their holdings when the price pumps.For instance, in the second week of November, when ADA was between the $0.50 and $0.60 range, these whales deployed capital to accumulate the tokens massively. By the third week, when ADA broke out to the $0.70 and $0.80 range, they took profits, reducing their holdings significantly.Likewise, when Cardano briefly dipped after reclaiming $1, the whales leveraged the dip to buy more ADA, only to sell when it pumped again. This pattern has recurred several times during these recent periods of heightened interest in Cardano.
Text source: The Crypto Basic
