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Cardano Whales Unload ADA Holdings Amid Bearish Signals

Guavy AI Editorial Team
Instruments
ADA PRIME
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Large Cardano (ADA) holders have started selling significant amounts of ADA tokens following recent bearish market signals. The coordinated sell-off has caused ADA's price to drop from $0.20, with wallets holding 1M-10M ADA dropping from 2,370 to 2,340 in nine days.

The sell-off coincides with technical indicators signaling a bearish trend, including a death cross on the MVRV ratio and a sell signal from the TD Sequential.

The Cardano Foundation has approved the PRIME program, potentially injecting up to 120 million ADA to support DeFi liquidity. The timing of this decision raises questions about its impact on the market.

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