Fresh on-chain data suggests a hidden dynamic within the Cardano ($ADA) market, where the recent two-month price slide is masking significant accumulation by large holders.
Key Takeaways:
- Diverging Behavior: While the price of ADA has been trending lower, the actions of retail traders and whales (large holders) have diverged sharply.
- Whale Accumulation: Wallets holding between 100,000 and 100 million ADA have been quietly buying, adding approximately 26,770 ADA since November 1st.
- Retail Exhaustion: Conversely, retail wallets holding less than 100 ADA appear to be losing patience and have sold off about 44,751 ADA over the same period.
- Price Stagnation: Despite this accumulation, ADA’s price has not reacted, remaining near $0.40 and stuck in a bearish pattern of lower highs and lower lows.
- Technical Outlook: The Relative Strength Index (RSI) is around 40, indicating continued bearish pressure but also suggesting that selling momentum may be weakening. Crucially, ADA has held its key mid-term support zones.
In summary, the price action (bearish/stalling) and the on-chain fundamentals (whale accumulation) are currently moving in opposite directions, creating an interesting tension in the market.
Explore the guides: MENA Regulation Tracker →Crypto regulation guide →
📧 The Gulf reads Cryptonite first
Get MENA regulation moves, RWA deals and AI-money trends in one weekly brief — plus instant alerts when the MENA Regulation Tracker changes. Free, no spam.
Was this briefing useful?Thanks for the feedback!
