Cardano (ADA) has seen a significant price drop of 71% over the past nine months, currently trading at $0.26. Despite this downturn, large holders, or "whales," have been actively accumulating ADA. According to Santiment, wallets holding at least 1 million ADA now control 25.09 billion ADA, representing 67.47% of the circulating supply. This accumulation trend suggests that these investors are capitalizing on the lower prices. Crypto analyst Ali Martinez highlights the $0.25 price level as a critical support zone for ADA, noting past recoveries from this level. Cardano's founder, Charles Hoskinson, addressed concerns about the network's scaling progress, emphasizing ongoing research and development efforts in scaling technologies and governance systems.
Cardano Whales Accumulate ADA Despite 71% Price Decline
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