Cardano (ADA) is in the spotlight not for upgrades or partnerships, but for a notable sell-off by whales. Over 270 million ADA were sold in a week, raising market concerns.
Whale Activity Raises Red Flags
Analyst Ali notes aggressive selling from wallets holding between 100,000 and 10 million ADA. Whales, with such holdings, make calculated decisions that impact market trends.
> "Whales have sold over 270 million ADA in the past week!" — Ali.
Market Reacts to Selling Pressure
The asset's price has dropped significantly to $0.6364 due to the sell-off. If market sentiment doesn't recover quickly, ADA could revisit support levels around $0.58–$0.60.
> "We are on Twitter, follow us to connect with us." — TimesTabloid.
Cardano Fundamentals Remain Strong
Despite the bearish outlook, Cardano's fundamentals show strong developer activity with over 1,500 projects on its platform. Upgrades like Hydra and Voltaire enhance long-term network utility.
The sell-off of 270 million ADA by whales adds pressure to the market while the fundamentals of Cardano remain intact, posing both challenges and opportunities.
