Cardano Whales Gobble 410M ADA – Is a May Price Surge Imminent?

Whale activity spikes as Cardano’s big players accumulate 410 million ADA tokens in weeks—just as the crypto market shows flickers of bullish momentum.

Market watchers note the timing aligns with historical May breakouts, though skeptics warn past performance doesn’t guarantee future gains (tell that to your 2021 portfolio).

With ADA hovering below key resistance levels, traders are split: either whales smell blood in the water or they’re about to become very expensive bag holders.

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 Netflow 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.