Whales Accumulate 420 Million Cardano Following Trump’s Crypto Reserve Announcement
Cardano (ADA) experienced significant volatility after an 80% price surge following President Trump’s announcement of its inclusion in the U.S. Strategic Crypto Reserve. This led to increased buying activity, but ADA subsequently dropped over 35% due to a market downturn.
Key points:
- Whale accumulation: Over 420 million ADA were bought by whales post-announcement, indicating long-term confidence.
- Current trading level: ADA is below $1, struggling with selling pressure and market uncertainty.
- Analysts remain optimistic about a potential breakout, contingent on establishing strong support and overcoming resistance levels.
Recent on-chain data shows that whales have been actively accumulating ADA during price drops since late 2024, positioning for future gains. The coming weeks are critical as bulls aim to reclaim key resistance levels to trigger a recovery, while maintaining support above $0.75 is essential to avoid further declines.
Current trading statistics indicate ADA fluctuated between $0.65 and $1.17 before settling at $0.95. A decisive move above $1 could signal a rally towards $1.30, while failure to hold above $0.75 may lead to additional downward pressure.
