Cardano’s Next Move Dangerously Hangs by a Thread as Whales Dump 350 Million ADA

Renowned analyst Ali Martinez reports that whales sold over 350 million Cardano (ADA) tokens last week, triggering significant market ripples.

This massive liquidation, among the largest in recent months, highlights heightened short-term volatility and shifting investor sentiment for ADA.

Crypto whales —investors holding massive ADA stakes —can sway markets with their trades. 

As a result, the recent 350 million ADA sell-off likely reflects profit-taking or portfolio rebalancing, sending immediate ripples through both retail and institutional markets.

Ultimately, the recent ADA sell-off underscores cryptocurrency’s dual drivers, pertaining to innovation and whale activity. As Cardano grows in the blockchain space, investors must navigate short-term volatility while weighing long-term potential.

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Cardano’s Next Move Hangs by a Thread Amid Weakening Confidence

Cardano faces a fragile outlook amid waning market confidence. Santiment data shows unique daily ADA addresses have steadily fallen since October 11, following a $20 billion market liquidation, highlighting rising investor caution and potential weakness in the blockchain’s near-term momentum.

Notably, technical indicators signal a bearish outlook for ADA. The MACD shows negative momentum, while sentiment has dipped below zero, highlighting the heightened risk of further downward pressure.

Therefore, if the current trend continues, ADA faces notable downside risk. Immediate support sits at $0.61, with intensified selling potentially pushing it to $0.46 —levels unseen in months —underscoring fragile market sentiment after the recent liquidation wave.

Cardano presently trades at $0.64 with the network recently launching Hydra 1.0, aiming to outpace rival blockchains with a staggering 1 million TPS.