Cardano Drops 18% Amid Whale Exit and Market Fears
Key Takeaways
Cardano (ADA) has experienced an 18% price decline over the past week. At the same time, the number of whale addresses has dropped to its lowest level since January 9. These developments raise questions about the future market trend. Technical indicators show continued selling pressure, while external factors such as a recent hack and regulatory uncertainties further impact the situation.
ADA Price Decline: Technical Weakness and External Factors
The ADA price has been in a downtrend since early February. The recent downward movement briefly pushed the price below $0.65 before a slight recovery occurred. The Relative Strength Index (RSI) stands at 36.37, approaching the oversold zone, which suggests a possible short-term stabilization. However, the On-Balance Volume (OBV) indicator continues to decline, indicating persistent selling pressure.
In addition to technical factors, external events have intensified the price decline. A hack at the Bybit crypto exchange in February 2025, in which $1.5 billion was stolen, has shaken market confidence. Additionally, uncertainty regarding the potential approval of a Cardano ETF by the U.S. Securities and Exchange Commission (SEC) is adding to market volatility.
Decline in Whale Activity: A Sign of Waning Confidence?
Data from Santiment shows that the number of wallets holding 1 to 10 million ADA has dropped to 2,454 – the lowest level since January. Large investors, known as whales, play a crucial role in market stability. Their withdrawal could increase volatility and put further pressure on the price.
If this trend continues, ADA may struggle to find stable support levels. On the other hand, a renewed increase in whale activity could signal a trend reversal.
Change in Market Structure?
If the decline in whale addresses establishes itself as a long-term trend, it could fundamentally change Cardano’s market structure. Reduced participation from large investors could lead to higher volatility and deter institutional investors. At the same time, greater involvement from smaller investors could result in a more decentralized distribution of ADA holdings.
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The coming weeks will be crucial in determining whether this is a temporary development or a fundamental shift.
Our Assessment
The recent price decline and decreasing whale activity indicate a phase of increased uncertainty for Cardano. Technical indicators show continued selling pressure, while external factors such as security incidents and regulatory developments influence investor confidence. If buying interest from large investors does not stabilize soon, ADA could face further pressure. On the other hand, a calmer market could present new opportunities for long-term investors.
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