Cardano ADA News: Surge in Whale Accumulation and Long-Term Holding Signals Strong Investor Confidence

Cardano Jumps 47% as Whales and Long-Term Holders Double Down on ADA

The double-digit price rally of Cardano (ADA) comes as whale accumulation increases and investors extend their holding time, signaling strong confidence in the asset. According to Santiment’s data, Cardano whales that hold between 10 million and 100 million ADA coins have significantly increased their holdings over the past week, acquiring 220 million coins valued above $192 million at current market prices. This whale cohort now collectively holds 12.74 billion ADA, marking their highest accumulation in six months. The increase in whale holdings drives upward price momentum by reducing the available supply in the market.

Cardano Struggles After Co-Founder Excluded from Crypto Summit

Cardano (ADA) is struggling to recover, trading NEAR $0.798, after a 26.9% weekly decline. The latest setback comes as Cardano’s co-founder, Charles Hoskinson, was excluded from the White House Crypto Summit on March 7, raising concerns about ADA’s standing in regulatory discussions. His absence has sparked debate within the crypto community, with some speculating that Cardano’s exclusion from key policy discussions signals a shift in influence, further impactingADA’s broader market standing.

Cardano Price Pulls Away From $1 After 9% Drop, Yet Traders Seem Optimistic

With ADA currently trading at $0.80, the recent price action has sparked optimism, opening the door for a potential recovery. Cardano’s funding rate is on the verge of turning positive after nearly a week in the negative zone, indicating a potential change in trader sentiment from bearish to bullish. Traders are now placing more long contracts than short, signaling confidence in a price rebound. Many anticipate an uptrend, believing the cryptocurrency’s recovery is imminent.

Cardano’s Roadmap to $1.2 and Price Action Outlook

Cardano (ADA) has seen its price range formation since December, curbing price expansion. The $0.78 support zone is expected to witness a strong price bounce towards $0.9 next week. On 2 March,ADA rallied 72% due to news of its inclusion in the U.S. crypto strategic reserve but has since retraced most gains. Currently trading within a key support zone that was a resistance level in February, Cardano presents a buying opportunity for swing traders.