Cardano Whales Load Up on 240 Million ADA as Price Surges

Large Cardano holders have increased their positions in the past five days, coinciding with a 22% surge in ADA's price.

According to data from Santiment, whales accumulated more than 240 million ADA during this period, pushing their combined holdings to around 14.5 billion ADA.

The aggressive buying indicates growing confidence among major investors, who typically increase their exposure when they anticipate further upside.

Cardano's price has rallied from $0.16 to nearly $0.19 within a short period, although it has pulled back from its recent peak and currently trades at $0.1801.

Despite the bullish on-chain accumulation, short-term technical indicators suggest that ADA could face additional downside pressure.