Cardano Whales Buying Despite 37% Drop: Analysts Eye Breakout

Recent analysis reveals a contrasting trend in the Cardano (ADA) market. Despite experiencing a significant drop of over 37% in the past month, large cryptocurrency holders, known as whales, have been accumulating ADA tokens. This buying activity is driven by their confidence in the long-term potential of the Cardano blockchain and hints at a possible price rebound. Data from CoinGlass shows sustained negative net exchange flows since October, indicating a strategic move to accumulate rather than sell. This behavior suggests whales are preparing for a breakout.