Cardano Whales Swoop 180M ADA: Will The Coin Rally

Crypto whales have heightened their activity around the Cardano ADA cryptocurrency, swooping up over 180M coins. Notably, the ADA accumulation began in May and sped up gradually over a few days. According to Santiment data shared by Ali Martinez, the amount of ADA held by whales keeps rising during periods of moderate price increases.

In a recent post shared on X, another crypto analyst, Ali_Charts, shared a potential scenario for Cardano ADA. The analyst forecasted $1 as a potentially attainable near-term price point for ADA bulls. As shown in his ADA technical chart, which dates back to December 2024, a long-term bullish formation signals a possible price hike to the $1 mark. However, the analyst asserted that this scenario is only attainable if bulls successfully break above the $0.81 resistance level. “If Cardano ADA breaks above the $0.81 resistance, it could set its sights on $1.” Currently, though, ADA remains far below that resistance, now testing $0.64.

Popular crypto exchange platform eToro recently relisted Cardano ADA, giving access to 38 million users across its global trading platform. With more eyes and opportunity around ADA, the asset could be set to bounce from its recent struggles. Cardano’s native currency ended last week down 10%, with open interest also falling in that same period. While the decline is worrisome, the network still has promising updates ahead that could be fueling the whale movements, perhaps pumping the ADA price.

Also Read: Best Cryptocurrency To Buy in 2025: Ripple (XRP) or Cardano (ADA)?

Cardano is targeting the real-world asset tokenization aspect of the Web3 world. The token is launching Midnight, ADA’s sidechain that intends to onboard stock trading on blockchain, revolutionizing the world of trading in essence. Charles Hoskinson, founder of ADA, has shared his vision for Midnight, adding how the chain is built “for stocks on the blockchain.”

At the same time, ADA being part of the rising ETF narrative is adding more to Cardano’s steady popularity. The SEC recently extended its review of Grayscale’s Cardano ETF to assess compliance with investor protection rules. The approval of an ADA ETF could catalyze ADA’s price towards new highs, with a return to $1 being the first target.