Cardano Price Plunges 7%, Despite Large Holders Accumulating ADA Tokens

The price of Cardano (ADA) declined by more than 7% over the past week, reaching $0.210 on Friday.

Despite this decline, large wallet holders have been actively purchasing ADA tokens throughout the week, adding 160 million tokens to their holdings since Sunday.

The derivatives landscape presents conflicting signals, with a long-to-short ratio of 0.74 indicating bearish sentiment and a positive funding rate flip suggesting some market participants maintain bullish expectations.