Cardano’s ADA Drops Amid Report of Whales Offloading $100M in Tokens

Why It Matters

The whale‑driven sell‑off raises concerns about weakening confidence in Cardano and could pressure the token further, affecting investors and market sentiment; however, emerging bullish technical signals keep traders watching for a potential rebound, making ADA’s near‑term price action a key focus.

Summary

Cardano’s ADA token dropped over 6% in 24 hours, sliding from $0.642 to $0.605 and breaking the key $0.61 support level on volume that was 42% above its weekly average. The decline followed on‑chain data showing whale wallets—holding between 100 million and 1 billion ADA—offloading roughly $100 million worth of tokens across three days. Technical analysis warns that if the $0.60 area fails, the price could test $0.55, while momentum indicators such as an RSI near 40 and a bullish MACD crossover hint at a possible short‑term rebound that has yet to materialize. ADA’s market cap now sits at about $22.5 billion, keeping it the 10th‑largest cryptocurrency, but it underperformed the broader crypto market, which is down about 5%.