Large holders with balances between 100,000 and 100 million Cardano (ADA) tokens have accumulated 454.7 million ADA worth $161.42 million over the past two months even as the cryptocurrency's price declined roughly 19%.
What Happened: Whales Buy, Retail Sells
Whale wallets holding between 10 million and 100 million ADA have consistently increased their exposure during the price decline. Wallets in the 1 million to 10 million range and those with 100,000 to 1 million ADA saw a temporary slowdown before resuming accumulation in Jan. 2026.
Retail investors moved in the opposite direction. Smaller holders with 100 ADA or less have sold 22,000 tokens worth nearly $7,810 over the past three weeks.
"When whales add & retails dump, this is historically an ideal setup for an eventual rebound when crypto markets begin to stabilize," Santiment stated in a post. ADA traded at $0.3534 at press time, up just over 2% in the past 24 hours.
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Why It Matters: Conflicting Signals
Fundamental metrics remain strong despite price weakness. ADA holder numbers grew from 3.17 million in November to 3.228 million, according to AdaStat, while total value locked in DeFi protocols stands at $161.87 million per DefiLlama.
Technical analysts see early signs of a potential shift. One analyst noted ADA is consolidating within a historical demand zone and outlined upside targets of $0.6386, $0.9358 and $1.3285 if support holds.
However, another analyst identified two prominent sell walls overhead that could cap upward movement. "Risk remains controlled as long as price holds above the support zone," the first analyst added, though clearing resistance zones may prove necessary before any sustained recovery takes shape.
ADA needs sustained buying pressure to shift the bearish structure that currently defines its chart.
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