Whales Fuel Cardano Surge with $240M Accumulation

Cardano's price surged by 22% after whales accumulated more than 240 million ADA over five days, according to data from onchain analytics platform Santiment.

This sharp recovery is a clear indication that large investors are expanding their positions in the cryptocurrency. The accumulation comes as Cardano's price rose from around $0.16 to nearly $0.19 before experiencing a minor pullback.

The token remains up more than 11% over the past seven days, making it one of the stronger performers among major cryptocurrencies during the recent recovery.

Despite this bullish on-chain picture, some short-term technical signals suggest that the market may still face volatility. Analyst GainMuse noted that ADA recently confirmed a bearish wedge breakdown on the 30-minute chart after slipping toward the $0.180 region.