Whales Accumulate 120 Million ADA, Market Eyes Potential Upsurge

Whales Accumulate 120 Million ADA, Market Eyes Potential Upsurge

ADA whales have amassed 120 million tokens over the past two weeks. This quiet accumulation, observed by on-chain analyst Ali Martinez, comes as Cardano’s price remains stable, drawing attention from market watchers interested in potential price movements.

Analysts are closely monitoring ADA’s price activity, as whale accumulation may hint at a forthcoming bullish trend.

In the past two weeks, large Cardano holders , primarily those with wallets containing 1 to 10 million ADA, have increased their holdings by 120 million tokens. Ali Martinez, an on-chain analyst, commented, “After a period of less traction, large holders have acquired 120 million ADA in the past two weeks.” This accumulation has pushed their collective total to 5.5 billion ADA. Despite the large purchases, ADA prices have remained stable, possibly indicating a strategic buying pattern by these major players.

The actions of these significant ADA holders could imply a future upward trend in Cardano’s price. While technical patterns such as a “golden cross” have emerged, ADA’s market price has yet to break past the resistance level of $0.61 to $0.63. This accumulation strategy during price stagnation often suggests expectations of an impending increase.

Cardano’s stable price and whale activities could signal potential volatility in the market. Observers are keen to see if this will lead to a significant price shift. Historical data supports the notion that such accumulation, particularly when prices remain flat, frequently precedes upward movements in asset value.

With the current absence of official commentary from Cardano leadership or financial regulators, investors and analysts are largely reliant on on-chain data and market patterns. The implications for ADA’s price trajectory remain to be fully realized, with some expecting a robust market performance if the current trends continue.