Cardano whales scoop up 410 mln ADA – Is a May breakout brewing?
By: bitcoin ethereum news|2025/05/03 12:15:01
0
Share
Whales accumulated ADA, signaling strong long-term conviction. Short-term activity reflected a bullish outlook, showing the market’s readiness to support a rally. In the past 24 hours, Cardano [ADA] dropped by 1.69% but has rallied 7.62% over the last month. This recent dip stems from a broader market correction that caused total market capitalization to fall to $3 trillion. Analysis from AMBCrypto indicates that ADA has a strong chance of resuming its upward trend in the coming days, as sentiment continues to position the asset for a major price surge. Whale accumulation and spot trader activity Whales, who control a significant portion of ADA’s circulating supply, spent the last month accumulating the token. This market cohort purchased 410 million ADA, worth approximately $285 million, during this period. Source: Santiment Of course, buying into weakness often signals long-term conviction. This accumulation phase came while prices remained relatively suppressed, hinting at expectations for a future breakout. Similarly, in the spot market, Netflow has remained bullish over the past few months. Exchange Net flow compares buying and selling activity to determine which side of the market is dominant. Source: CoinGlass Since March, approximately $416 million worth of ADA has been purchased from the market. Although this accumulation hasn’t led to a sharp upward move yet, it suggests that traders are preparing for a significant rally. ADA’s rally possibility remains strong On the chart, ADA is showing choppy movement with no clear pattern to guide precise predictions. Using the Fibonacci retracement line, AMBCrypto identified several levels that could restrict or define ADA’s price movement. At the time of writing, Cardano hovered around $0.7034—a resistance level it has tested for ten straight days. Source: TradingView To evaluate the likelihood of ADA moving beyond this level, analysts reviewed the Liquidation Heatmap to identify liquidity clusters. Liquidity clusters tend to attract price movement, pulling it toward those zones. At present, multiple liquidity clusters are stacked above ADA’s price, reaching as high as $0.74. Source: CoinGlass This development indicates that ADA could overcome the current resistance level and move toward higher price levels on the chart. Short-term rally possibility stays strong In the derivatives market, bullish sentiment remains strong as long traders continue opening new positions. Open Interest, which tracks the value of unsettled derivative contracts, has increased, now totaling $778.99 million. Source: CoinGlass This growth suggests a rise in active positions and overall market engagement. To understand the directional tilt, analysts looked at Funding Rates. Currently, the Funding Rate stands at 0.0084%, confirming that the majority of positions are long. This reinforced the broader bullish sentiment seen across the board. In summary, Cardano continues to see consistent accumulation from whales and traders, indicating confidence in its long-term value, but for now needs to build short-term momentum. Source: https://ambcrypto.com/cardano-whales-scoop-up-410-mln-ada-is-a-may-breakout-brewing/
You may also like
Supreme Court ruling expanding Trump's authority over federal agencies raises questions for SEC, CFTC as crypto rulemaking advances
'Bottom building in progress': Analysts say bitcoin holder capitulation signals late-stage bear market
A Comprehensive Analysis: Starting from 1996, Who is Laying the Foundation for the Next Generation of Capital Markets
Luke Dashjr, the Biggest Anti-Spammer of Bitcoin, Inscribed Phrases on the Network in 2011
Whales bought 270,000 BTC while ETFs bled $7 billion. One side is wrong
The crypto IPO class of 2025-26 is down as much as 89%. Autopsy of a listing boom
Robinhood Chain Mining Guide: A Comprehensive Tutorial from Cross-Chain to Memecoin
BitGo CEO says single-digit percentages of bitcoin's supply are 'probably right' for large holders amid Strategy's sale
Beyond Private Keys: How to Safeguard the Security Boundaries of Web3 from Wallets, L2 to Supply Chains?
Vanguard Enters the Market, Opening a New Crypto Gateway for 50 Million Traditional Investors
Why the OUSD Alliance of 150 Companies Still Cannot Shake USDT and USDC?
Citigroup Analysis: Is There Still 47% Upside for Nvidia? Can Rubin and CPO Deliver?
WEEX API Fast Connect: Turn Every Sign-In Into a Live Trader in Under 10 Seconds
WEEX API Fast Connect is a one-click OAuth authorization system that lets your users link their WEEX account without ever touching an API key. Frictionless onboarding, faster conversions, higher retention — built for WEEX Broker partners.
Bitcoin's dwindling exchange reserves don't pack the same bullish punch anymore
From Le Mans to the Rollercoaster: Carl Moon Takes On Portimão
Crypto world renowned KOL and racing driver Carl Moon, backed by WEEX, heads to the Ferrari Challenge Portugal round at the Algarve International Circuit, July 16–19, fresh off a podium finish at Le Mans. Here's why this race is one to watch.
Fast execution. Split-second accuracy. Security that never blinks. That's WEEX — and that's exactly how Carl races.
The Downfall of a Public Company: A $1.46 Billion Bet on WLFI, $540 Million Went to the Trump Family
Dragonfly Partner: BTC is Intergenerational Wealth, Optimistic About ETH and SOL
Goldman Sachs Calls to Go Long on Chinese AI: $4 Trillion Market Value Behind, Global Funds Only Allocated 1.2%
Supreme Court ruling expanding Trump's authority over federal agencies raises questions for SEC, CFTC as crypto rulemaking advances
'Bottom building in progress': Analysts say bitcoin holder capitulation signals late-stage bear market
A Comprehensive Analysis: Starting from 1996, Who is Laying the Foundation for the Next Generation of Capital Markets
Luke Dashjr, the Biggest Anti-Spammer of Bitcoin, Inscribed Phrases on the Network in 2011
Whales bought 270,000 BTC while ETFs bled $7 billion. One side is wrong
The crypto IPO class of 2025-26 is down as much as 89%. Autopsy of a listing boom
Customer Support:@weikecs
Business Cooperation:@weikecs
Quant Trading & MM:bd@weex.com
VIP Program:support@weex.com
