Cardano Whales Trigger $80M ADA Buying Spree – Price Breakout Imminent?
Are Cardano whales fueling the next major price surge? Recent on-chain data suggests a significant accumulation trend, potentially signaling an upcoming breakout. According to Odaily, on-chain analyst Ali (@ali_charts) revealed on the X platform that Cardano whales have purchased more than 80 million ADA in the past 48 hours. This follows a pattern of strategic accumulation that has been observed throughout recent months.
Cardano whales have accumulated 100 million ADA tokens in 48 hours, pushing price above $1.00 while forming a bullish pennant pattern that suggests potential further upward momentum. This bullish formation, coupled with the significant whale activity, has many analysts predicting a substantial price increase for ADA in the near future.
This isn't the first time Cardano's largest investors have made strategic moves. Cardano whales took advantage of the end-of-year pullback, acquiring 160 million ADA at a discount. Despite large investors betting on ADA, some market watchers remain cautious, urging investors to do their own research before making any investment decisions. However, the sheer volume of ADA being acquired by whales is difficult to ignore.
Following weeks of consolidation, Cardano whales sprang into action in late October, scooping up 80 million ADA worth about $28 million. This accumulation trend highlights the long-term confidence these major players have in the Cardano ecosystem and its potential for future growth. The accumulation pattern appears to continue, with increasing frequency.
Recently, crypto on-chain analyst Ali Martinez shared a compelling ADA chart, revealing that whales have accumulated over $40 million in Cardano’s ADA within just 48 hours. The chart clearly depicts the consistent buying pressure exerted by these large holders. This continued accumulation suggests that whales are positioning themselves for a significant move in the price of ADA. Whether this will trigger a sustained bull run remains to be seen, but the signs are certainly pointing in that direction.
Stay tuned for further updates as we continue to monitor the activity of Cardano whales and the potential impact on ADA's price.