A significant dump by large Cardano holders (whales) saw over 4 million ADA being sold in the past week, contributing to a price decline below $0.54 and increasing bearish sentiment surrounding the cryptocurrency. This activity was reported by on-chain analyst Ali Martinez on X. 4 Million ADA sales have been tracked, with transactions originating from wallets holding between 100,000 and 1,000,000 ADA tokens. 4 million ADA offloading is a large number in the context of market trends, and it has impacted active address metrics, which decreased alongside on-chain volume. While these large-scale sales have resulted in immediate market consequences for Cardano, there’s some indication from the stable staking rates that suggest diverse investor responses to the current trend. The impact of this whale activity on other Layer 1 tokens is yet to be seen. However, developer activity and staking trends indicate sustained long-term growth potential, despite short-term fluctuations.