Cardano Whales Sell 170M ADA, Price Drops to $0.65
The Most Important Points at a Glance
- Large Cardano investors (“whales”) have sold 170 million ADA.
- The ADA price dropped from $0.83 to $0.65 during this period.
- Google searches for Cardano as an investment increased by 90%.
- The price development heavily depends on the $0.65 level.
Massive ADA Sell-Off by Large Investors
In recent days, large Cardano investors have offloaded significant amounts of ADA. A total of 170 million ADA were sold, leading to a decrease in held reserves from 3.26 billion to 2.98 billion ADA.
This selling pressure coincided with a significant price correction. The ADA price dropped from $0.83 to $0.65. Such movements often indicate a bearish market sentiment, as large investors may be anticipating further price declines.
Growing Interest in Cardano as an Investment
At the same time as the ADA sell-off, Google searches for “Is Cardano a good investment?” surged by 90%. This indicates growing public interest in the cryptocurrency.
Other cryptocurrencies, such as Polkadot (DOT) and Luna Classic (LUNC), also saw a 110% increase in search queries. This could suggest heightened market attention and speculative movements.
Key Price Levels for ADA
Technical analyses show that ADA is currently trading at a crucial support level of $0.65. If this level holds, a renewed rise toward $1.00 could follow. In the long term, prices of $3.00 or even $7.50 might be possible.
However, if ADA falls below $0.65, a decline to $0.30 could be imminent. This would represent a return to a previous consolidation zone.
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Our Assessment
The current market situation for ADA remains uncertain. The strong sell-off by whales suggests a cautious stance among large investors. At the same time, the increased public interest could attract new buyers.
In the short term, the $0.65 level is crucial. If this support holds, ADA could start a recovery. A break below this level, however, would open up further downside potential.
| Symbol | ADA |
| Coin type | Alt Coin |
| Transaction Speed | High |
| Pros |
|
| Cons |
|
| Further practical applications | |
| Price | $0.64 |
| 24h % | -3.42 % |
| 7d % | -20.54 % |
| 30d % | -29.86 % |
| 60d % | -25.83 % |
| 1y % | 2.08 % |
| Market Cap | $22,951,581,555.00 |
| Max. Supply | 45,000,000,000.00 |
| Official Links | Website | Whitepaper | Source Code |
| Socials | Reddit | X | Message Board |
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