Cardano Under Pressure as Whale Sell-Off Triggers Downward Trend

A recent surge in sell-offs, particularly from significant holders known as whales, has put Cardano under pressure. With over 120 million ADA sold within the past 48 hours, the market sentiment is shifting towards bearish trends. This trend is being fueled by decreasing DeFi TVL and derivatives market weakness. While some spot market traders remain optimistic about long-term potential for Cardano (ADA), their efforts may not be enough to counter the prevailing negative market conditions.