Whales Accumulate 150 Million Cardano Coins Amid Price Rebound
Market whales have accumulated 150 million Cardano (ADA) in just two weeks, coinciding with signs of a price rebound. This accumulation has generated speculation about a potential significant price movement.
Institutional Interest Grows
- ADA trading at $0.8401, down 3.77% in 24 hours and 11.24% over the past week.
- Previous support levels were around $0.88, with critical support at $0.84 to $0.85.
- Analysts suggest that breaking above $1 could be a target for bulls.
- Institutional demand for ADA has increased, with total holdings exceeding $900 million.
- Grayscale has registered a Cardano Exchange Traded Fund (ETF) in Delaware, indicating strong institutional interest.
- Large investors are focusing on Cardano's structural value rather than short-term speculation.
- Factors attracting institutions include liquidity, reliable infrastructure, and steady transaction volumes.
Other Crypto Developments
The presale for TOKEN6900 has raised $2.3 million, indicating strong investor interest. Current presale stats include:
- Current Price: $0.00705
- Amount Raised: $2.37 million
- Hard Cap: $5 million