Cardano (ADA) whales holding between 10 million and 100 million tokens have scooped up more than 220 million ADA — worth over $61 million — in recent days as the altcoin attempts to stabilize near $0.278.
What Happened: Whale Accumulation Intensifies
Large holders moved aggressively during the price dip. Addresses in the 10-million-to-100-million ADA range added the tokens while the price hovered near its recent lows, a pattern that often reflects strategic positioning during periods of weakness.
The buying spree coincided with a rise in Cardano's Mean Coin Age metric, which tracks how long coins remain dormant. The indicator hit a three-month high, suggesting long-term holders are choosing to sit on their positions rather than sell.
That combination — fresh accumulation by whales and inactivity among older holders — can reduce circulating supply and provide a floor for prices in the short term. ADA is currently trying to hold the $0.271 level, which lines up with the 23.6% Fibonacci retracement, and a confirmed bounce from there could open a path toward $0.303 and potentially $0.354.
The picture is not entirely one-sided.
If ADA fails to clear $0.303, sellers could push it back below $0.271, with $0.245 emerging as the next downside target.
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Why It Matters: Support Signals Conviction
Whale accumulation during drawdowns has historically preceded stabilization phases in altcoin markets. The $61 million buying wave suggests these large players see value at current levels rather than further downside risk.
The rising Mean Coin Age reinforces that reading. When long-term holders refuse to liquidate, it typically signals expectations of future price appreciation. Sustained dormancy among older coins combined with active buying from large wallets creates a supply dynamic that can shift momentum if broader market conditions cooperate.
Still, risks persist. Volatile conditions across the crypto market mean that even strong on-chain signals can be overridden by macro-driven selling pressure, and ADA's recovery remains contingent on reclaiming key resistance levels above $0.30.
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