Cardano ADA News: Speculation Around Whale Selling Following Trump’s Crypto Reserve Suggestion

Recent developments in the cryptocurrency world have sparked speculations about the future of Cardano (ADA). Here’s a summary of what’s been happening:

Cardano Whales May Have Sold on Trump Crypto Reserve News

Cardano whales potentially cashed out on Sunday following news that Donald Trump suggested Cardano, Solana, XRP, and other altcoins could form part of a United States crypto reserve. The news initially lifted crypto prices, including ADA, but most altcoins have since returned to the red. It is speculated that whales took the opportunity to sell their holdings when prices ROSE due to Trump’s endorsement.

Cardano (ADA) Clears All Losses as Price Skyrockets 46% in 7 Days

Cardano (ADA) has cleared all losses with a 46% price increase in the past seven days, reaching a high of $1.02. The trading volume has also increased by 7.43% to $5.52 billion. Analysts attribute this growth to renewed interest in crypto and speculations about ADA being added to the U.S. list of strategic crypto reserves, which could spark institutional interest.

Cardano (ADA) Price Eyes $1.5 as Bullish Momentum Builds

Cardano (ADA) has been testing a pivotal price range, fueling optimism that it could soon reclaim the $1.5 mark. Despite the broader cryptocurrency market facing bearish pressure, ADA has demonstrated resilience, showing signs of strength as whales heavily accumulate the token. These positive developments suggest that Cardano could be on the verge of a significant rally, with many expecting it to reclaim lost price levels above $1, and potentially push toward new highs in the near future. In recent weeks, Cardano has defied the broader bearish trend in the cryptocurrency market, triggering a solid recovery. While many tokens have struggled to maintain their value, ADA has shown significant strength, and its price has managed to sustain itself despite the overall downturn.

Can Cardano (ADA) Reach a $500 Billion Market Cap?

Cardano (ADA) retested a lower support level, sparking debate across its market potential. Some analysts, such as Dan Gambardello, have speculated that ADA’s $500 billion market capitalization would drive its price to $14. Currently, Cardano has a $27.4 billion market cap and trades for $0.76. Even under the best market conditions, the corporation would have to rise 1,720% to reach a $500 billion valuation. ADA has historically had amazing price movements, such as its 17,364% climb between March 2020 and September 2021, when it peaked at $3.16, but it has struggled to recover since then.