Cardano Faces Selling Pressure: Will ADA Price Plunge as Whales Lose Interest?

Cryptocurrency whales have offloaded over 100 million Cardano (ADA) tokens within the past week, sparking concern among traders and analysts. This large-scale selling pressure has many wondering: will ADA price plunge further?

Whales Dump ADA: A Closer Look at the Sell-Off

Recent on-chain data reveals a significant shift in whale holdings of Cardano. After reaching $1.16, ADA prices dropped back to $0.99, and whale balances fell sharply from 3.5 billion ADA to 3.32 billion ADA. In total, whales offloaded over 180 million Cardano. Further data points to more selling, with one report stating that whales offloaded 160 million ADA, worth $147 million, as uncertainty grows after its inclusion in Trump’s crypto reserve. ADA active addresses dropped to 33,000.

On Friday, popular crypto analyst Ali Martinez highlighted this development, tweeting, “Whales have sold more than 180 million ADA over the past week.” This wave of selling is a key factor influencing Cardano's current market performance.

The Impact on Cardano's Price

Cardano (ADA) struggles as whales sell 70M ADA, sending prices lower. Key metrics show bearish momentum, with recovery dependent on critical support levels. Cardano's price struggles as whales offload 170 million ADA, triggering negative sentiment. On-chain data shows significant sell-offs, and technical indicators point to a weakening position for ADA.

Will ADA Price Recover?

The recovery of Cardano was obstructed. This trend points to a lessening possibility of significant price shifts for Cardano in the near future. The question remains: Will ADA Price Recover? The answer depends heavily on whether buying pressure can outweigh the ongoing selling pressure from whales. Keep an eye on key support levels and overall market sentiment for clues about ADA's next move.