Cardano ADA Slumps on Selloff, Onchain Signals Mixed

Cardano’s ADA tumbled sharply during a market-wide selloff earlier this month and has since traded in a fragile range as investors weigh mixed onchain signals. The token fell roughly 20 percent in a 24-hour span, hitting lows near $0.62 before stabilizing between about $0.64 and $0.70 in the days that followed, according to price trackers and blockchain data through mid-October.

Onchain metrics show both accumulation and distribution among large holders. Santiment data indicates midtier wallets holding 10 million to 100 million ADA increased combined balances by roughly 140 million ADA between October 10 and October 12, and addresses with more than 1 billion ADA rose from about 1.50 billion to 1.59 billion in later days. Total additions by those cohorts were put at roughly 140 million to 200 million ADA in some onchain tallies. At the same time, other reports and transaction records document significant selloffs, with figures ranging from about 180 million ADA sold in a short period to as much as 350 million ADA over the past week. Open interest and derivatives flows also shifted; long liquidations outpaced shorts in recent sessions, and funding rates briefly turned positive as...