During a recent price drop, crypto analyst Ali Martinez reported that Cardano (ADA) whales purchased over 130 million ADA tokens.
The drop occurred earlier this week when ADA’s price fell nearly 20% between Monday and Tuesday. During this time, the token’s value declined from $1.0778 to a low of $0.8743.
Cardano(ADA) Price Recovery and Wallet Growth Observed
Following the dip, ADA’s price has begun to recover and is now trading at $0.984 per token. Alongside this recovery, wallets holding between 100 million and 1 billion ADA have seen an increase in total holdings, now totalling 3.2 billion ADA.
Whale Behavior Reflects Strategic Investments
The buying activity of Cardano whales highlights a calculated approach to market fluctuations. These large investors use temporary price declines to secure ADA at more favourable prices, strengthening their positions.
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Cardano Bullish Trend Supported by Whale Activity
This surge in whale purchases suggests the recent price movements may signal a continuation of Cardano’s upward trend. Instead of indicating a bearish market phase, these actions reinforce a perceived strength within ADA’s market.
Impressive Growth and Future Projections for ADA
Since the start of November, ADA’s price has climbed by 188.5%, reaching levels not seen since spring 2022. If the bullish trend continues, analysts expect ADA’s price to potentially rise to $2.453, or even as high as $8.30, based on Fibonacci projections.
Cardano’s all-time high remains at $3.10, indicating significant growth potential if the bullish momentum persists.
