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ADA Eyes $0.83 Target as Whale Holdings Hit $1.09 Billion

Irene Mukiri by Irene Mukiri
February 12, 2025
in Binance Feed, Market
Reading Time: 4 mins read
ADA Eyes $0.83 Target as Whale Holdings Hit $1.09 Billion
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  • ADA’s whale accumulation fuels optimism, pushing price toward $0.83 target.
  • Cardano’s 107% price surge aligns with continued whale buying since late 2023.
  • Plomin hard fork enhances governance, setting ADA apart in the crypto space.

Cardano ($ADA) is showing signs of a breakout, with analysts closely monitoring its next move. As per Ali Martinez, ADA has the potential to surge toward $0.83 if the current momentum continues. 

Despite a slight decline of 2.18% in the past 24 hours, the cryptocurrency has gained 3.62% over the last seven days. With a market capitalization of $28.35 billion and a trading volume exceeding $1.24 billion, ADA remains a key player in the altcoin market.

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#Cardano $ADA is breaking out, with a potential move toward $0.83 if momentum holds! pic.twitter.com/zDc0slO8C9

— Ali (@ali_charts) February 12, 2025

Whales Accumulate Amid Market Volatility

According to Santiment, ADA’s market capitalization jumped by 11% while many altcoins struggled. This surge aligns with increasing interest from large investors, specifically wallets holding over one million ADA. 

Since November 2023, these wallets have consistently accumulated ADA, purchasing 1.41 billion tokens worth over $1.096 billion. This volume accounts for 2.35% of the entire circulating supply, highlighting strong confidence among large holders.

🐳📈 Cardano's market cap has recovered by +11% on a day where most cryptocurrencies have retraced. One thing to continue watching is the continued behavior of whales and sharks.

Wallets holding at least 1M $ADA have been consistently accumulating since late November of 2023,… pic.twitter.com/pTHCqRCRC7

— Santiment (@santimentfeed) February 11, 2025

Historical data indicates that this whale accumulation has contributed to ADA’s price movements. Over the past 15 months, ADA has experienced a 107% price increase, correlating with the continuous buying spree from major investors. 

Interestingly, the trend intensified as ADA’s price declined from its all-time highs in September 2021. This pattern suggests that whales see value in accumulating ADA at lower prices, anticipating future gains.

Price Volatility and Growth Outlook

Despite its bullish momentum, Cardano is not immune to market corrections. ADA’s price has experienced fluctuations, reflecting broader crypto volatility. However, the sustained accumulation by whales indicates that long-term holders remain optimistic about ADA’s potential.

Beyond whale activity, external factors are also shaping ADA’s future. The potential introduction of Grayscale and Tuttle Capital 2x Leveraged ETF products could boost institutional interest in Cardano. 

Additionally, Plomin hard fork has introduced community governance, marking a significant milestone in the blockchain industry. This upgrade is expected to enhance decentralization and governance, setting ADA apart from other cryptocurrencies.

Tags: Cardano (ADA) News

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