Crypto
Cardano Whales Load Up Amid Price Slump
Cardano's (ADA) whale wallet count has reached a four-month high of 424 wallets, each holding more than 10 million tokens. Despite this uptick in large-holder activity, ADA remains stuck near multi-month lows at around $0.24, roughly 11% above its February 5 low.
The token's price has dropped almost 42% in three months and about 53% over the past year. It now sits 92% below its all-time high of around $3, reached four years ago.
Santiment noted that sustained accumulation during subdued pricing could eventually create a bullish divergence. Analysts have called a bottom for ADA, with some targeting a move above $0.60 in Q2, although this projection lacked detailed analysis.