- Over 70 million ADA transferred in 96 hours, raising speculation about strategic repositioning and accumulation.
- Historical data shows ADA’s inflows and outflows closely align with price surges and corrections.
- Grayscale’s spot ETF filing keeps ADA in the spotlight, contributing to bullish sentiment.
Cardano (ADA) has remained in the spotlight since Grayscale Investments filed for a spot ETF application to track the price of the coin. To complement its growth in the past few days, analysts are shedding light on how ADA whales are behind its most sustained growth streak.
At the time of writing,Cardano was trading at $0.7906 with a 1.15% price surge indicating that the market is bullish. Against Bitcoin, ADA has gained 1.2%, indicating relative strength. The 24-hour price range spans from $0.7724 to $0.8058, showcasing moderate volatility. The small price increase suggests consolidation, with neither strong bullish nor bearish momentum. A breakout above $0.8058 could push ADA toward $0.82 – $0.85, while a drop below $0.7724 may lead to a decline toward $0.75.
Recent ADA Whales Movements Raise Questions
Over the past 96 hours, According to analyst Ali,whales have transferred more than 70 million Cardano (ADA). The transactions have sparked discussions within the cryptocurrency community regarding potential market impacts, and ADA’s price trajectory.
While the exact reasons behind these movements remain unclear, market analysts speculate that they could be linked to strategic repositioning or accumulation by institutional investors.The substantial volume suggests that large holders are making calculated moves, which may affect market dynamics.
ADA Inflows Indicate Accumulation Before Price Increase
Data from Coinglass shows ADA’s saw price netflow where from April to October, the netflow remained relatively stable, with minor fluctuations. A sharp increase in inflow occurred in November, coinciding with a rapid price surge. However, heavy outflows followed, leading to significant price corrections.
The most notable outflows occurred between December and January, reflecting increased selling pressure. The price trended downward but showed slight recovery in early February. The data suggests a strong correlation between netflow and price movements, with large outflows often preceding price drops, indicating market sentiment shifts. While the long-term impact of these whale movements remains uncertain, Cardano’s fundamentals continue to attract attention.
