ADA Price Plunges 7% Amid Large Holder Buying Spree

Cardano's ADA token price dropped more than 7% over the past week, reaching around $0.210 by Friday's session.

The decline has sparked interest from market participants and blockchain analytics experts, with large wallet holders purchasing 160 million ADA tokens during this period.

This increase in buying activity from major stakeholders is a positive sign for ADA, although it hasn't yet halted the downward momentum.

Derivatives metrics paint a mixed picture of the market sentiment. The long-to-short ratio currently stands at 0.74, indicating bearish expectations.