In April, large holders of Cardano (ADA) increased their holdings by 420 million ADA, equivalent to approximately $289 million. However, during this time, the price of ADA remained stable, struggling to break through key levels.
Whales' Acquisition of ADA
Large wallets, holding between 10 million and 100 million ADA, purchased 420 million tokens in April. According to data from the analytics platform Santiment, their total holdings rose from 12.47 billion to 12.89 billion ADA.
Price Challenges for Cardano
Despite this, for the past five weeks, Cardano's price has faced difficulties in breaking the $0.70 level. Currently, ADA is trading around $0.67, stuck in a tight trading range.
Investor Signals and Trends
If Cardano breaks above $0.74, it could start a new upward trend. However, a drop below $0.66 may trigger negative sentiments among investors.
The behavior of large holders actively influences market sentiment and may serve as a harbinger of Cardano's long-term value, despite current challenges in price growth.
