Cardano’s $3 Gamble: Whales Go All-In as ADA Struggles to Break Past Records

Big money is betting hard on Cardano—while the rest of the market watches its slow climb back to glory. Here’s why the smart money isn’t waiting.

Whales are scooping up millions in ADA, convinced a $3 surge is inevitable. Meanwhile, retail traders grit their teeth as the token fights to reclaim its all-time high. Classic crypto: the rich get richer while the hopeful HODL.

Will Cardano’s tech finally deliver—or is this just another pump waiting to dump? Only time will tell, but one thing’s certain: Wall Street’s playbook looks tame compared to crypto’s high-stakes casino.

Cardano (ADA) is in a tight corner after dropping below the psychological price of $0.75, as lower highs and lower lows increase bearish pressure.

In technical analysis, lower highs and lower lows depict a downtrend since buyers are not strong enough to push the price as high as before.

Therefore, sellers are usually in control in such a situation because they keep pushing the price down further.

This explains why, according to CoinGecko data, Cardano has lost 7.1% of its value in the past week and is currently trading at $0.735. 

Despite this drop, whales are not relenting in their quest to accumulate more Cardano. They recently purchased more than 80 million ADA, worth a whopping $57 million.

Thanks to this development, all hope is not lost for cardano because whales expect a price increase in the near future.

Market analyst Jimmy X recently opined that Cardano was eyeing a bullish reversal that could see the ninth-largest cryptocurrency surge to the $1 price zone based on market capitalization.

Crypto analyst Arab Crypta recently shared similar sentiments, stating that ADA had set its eyes on the psychological price of $3 since buyers were continuously defending the neckline.

Famed for its peer-reviewed and scientific approach, Cardano is a third-generation blockchain that intends to solve sustainability, interoperability, and scalability issues in earlier networks, such as ethereum (ETH) and Bitcoin (BTC).