Cardano whales scoop up 410 mln ADA – Is a May breakout brewing?

By: bitcoin ethereum news|2025/05/03 12:15:01
0
Share
copy
Whales accumulated ADA, signaling strong long-term conviction. Short-term activity reflected a bullish outlook, showing the market’s readiness to support a rally. In the past 24 hours, Cardano [ADA] dropped by 1.69% but has rallied 7.62% over the last month. This recent dip stems from a broader market correction that caused total market capitalization to fall to $3 trillion. Analysis from AMBCrypto indicates that ADA has a strong chance of resuming its upward trend in the coming days, as sentiment continues to position the asset for a major price surge. Whale accumulation and spot trader activity Whales, who control a significant portion of ADA’s circulating supply, spent the last month accumulating the token. This market cohort purchased 410 million ADA, worth approximately $285 million, during this period. Source: Santiment Of course, buying into weakness often signals long-term conviction. This accumulation phase came while prices remained relatively suppressed, hinting at expectations for a future breakout. Similarly, in the spot market, Netflow has remained bullish over the past few months. Exchange Net flow compares buying and selling activity to determine which side of the market is dominant. Source: CoinGlass Since March, approximately $416 million worth of ADA has been purchased from the market. Although this accumulation hasn’t led to a sharp upward move yet, it suggests that traders are preparing for a significant rally. ADA’s rally possibility remains strong On the chart, ADA is showing choppy movement with no clear pattern to guide precise predictions. Using the Fibonacci retracement line, AMBCrypto identified several levels that could restrict or define ADA’s price movement. At the time of writing, Cardano hovered around $0.7034—a resistance level it has tested for ten straight days. Source: TradingView To evaluate the likelihood of ADA moving beyond this level, analysts reviewed the Liquidation Heatmap to identify liquidity clusters. Liquidity clusters tend to attract price movement, pulling it toward those zones. At present, multiple liquidity clusters are stacked above ADA’s price, reaching as high as $0.74. Source: CoinGlass This development indicates that ADA could overcome the current resistance level and move toward higher price levels on the chart. Short-term rally possibility stays strong In the derivatives market, bullish sentiment remains strong as long traders continue opening new positions. Open Interest, which tracks the value of unsettled derivative contracts, has increased, now totaling $778.99 million. Source: CoinGlass This growth suggests a rise in active positions and overall market engagement. To understand the directional tilt, analysts looked at Funding Rates. Currently, the Funding Rate stands at 0.0084%, confirming that the majority of positions are long. This reinforced the broader bullish sentiment seen across the board. In summary, Cardano continues to see consistent accumulation from whales and traders, indicating confidence in its long-term value, but for now needs to build short-term momentum. Source: https://ambcrypto.com/cardano-whales-scoop-up-410-mln-ada-is-a-may-breakout-brewing/

You may also like

Former ByteDance employee's account: How I started with two Pinduoduo hard drives and made six times the profit with Seagate to achieve financial freedom?

A programmer from a big tech company bought hard drives on Pinduoduo and, following clues, managed to accurately capture the sixfold rising stock Seagate using the "finding daily anomalies + 13F institutional verification" framework, making a wild profit of $400,000 and achieving financial freedom.

MiCA reshuffle begins, Binance temporarily bids farewell to the EU

What Binance leaves behind is not scattered retail investors, but a whole batch of high-value users who are forced to liquidate and have almost nowhere to go.

How does Gate redo "buying and selling stocks" from the cryptocurrency world to the stock market?

The competition logic of exchanges has changed.

Visa and Mastercard join 140 giants to launch a new stablecoin, but the impact on the market landscape may still be limited

As an important milestone event in the stablecoin landscape, OUSD is likely to change the existing stablecoin landscape and significantly increase the adoption rate of stablecoins in the global financial system.

Circle CEO responds to OUSD's challenge: Stablecoins are a winner-takes-all business, and we will not slow down

OUSD was jointly launched by more than 140 giants, causing Circle's stock price to plummet in a single day. Circle's CEO personally wrote a response, clarifying USDC's moat from three aspects: network effects, liquidity, and regulation, and dismantling OUSD's three selling points of "free redemption...

Argentina vs Cape Verde: When a Record-Breaking Legend Meets an Unbreakable Underdog

WEEX exclusive pre-match analysis of Argentina vs Cape Verde, exploring Messi-led Argentina’s dominance and Cape Verde’s historic defensive breakout, with a breakdown of volatility, structure, and match dynamics.

Popular coins

Latest Crypto News

Read more
iconiconiconiconiconiconicon
Customer Support:@weikecs
Business Cooperation:@weikecs
Quant Trading & MM:bd@weex.com
VIP Program:support@weex.com