Big Money Flows into Cardano (ADA) Despite Market Downturn

Recent volatility in the crypto market has presented a buying opportunity for investors, with large holders showing interest in ADA, Cardano’s native token.

On-chain data from Coinglass suggests that significant capital is flowing into ADA despite broader market uncertainty.

Whales Accumulate ADA Amid Market Dip

Over the past 48 hours, approximately $10 million worth of ADA has moved off exchanges, signaling potential accumulation by investors taking advantage of the lower prices. This shift in supply could create buying pressure and support a price rebound.

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Meanwhile, leveraged traders remain active, with long positions dominating at $0.76, amounting to $2.05 million. In contrast, short positions at $0.779 hold a lower volume of $1.13 million, suggesting bullish sentiment prevails.

Analysts See Buy Signal for ADA

Some crypto analysts, like Ali Martinez, believe ADA is primed for a recovery, citing technical indicators such as the TD Sequential, which has triggered a buy signal.

Despite these bullish factors, ADA’s price currently hovers around $0.79, reflecting a 2.5% surge in the past 24 hours. Trading volume has also increased by 50%, indicating increased market participation. However, with large holders accumulating and technical signals aligning, traders are watching for a potential rally.

Alexander Stefanov