Cardano Whales Inject $289 Million into the Token Despite Price Stalled Out

Large Cardano (ADA) investors, often referred to as whales, recently purchased over 420 million ADA worth approximately $289 million in April. Their holdings have increased from 12.47 billion ADA to 12.89 billion ADA based on data from Santiment. This activity comes despite Cardano’s price struggling to break through a key support level for the past five weeks. The coin remains stuck below the $0.70 mark and has failed to gain momentum even with heavy whale buying.