Cardano Whales Accumulate 220M-270M ADA Amid Price Drop

Large holders of Cardano's native cryptocurrency, ADA, have accumulated between 220 million and 270 million tokens over the past week, even as the asset's price hovered around 0.24 dollars amid a broader market downturn. This buying activity, tracked by on-chain analytics platforms such as Santiment and CoinGlass, pushed total whale holdings to approximately 13.84 billion ADA, representing about 37 percent of the circulating supply. The moves occurred as of March 31, following a period of price compression and recent network advancements.

Cardano's price has declined nearly 9 percent over the past week and more than 30 percent since the start of the year, slipping from elite top-10 status to the 15th-largest cryptocurrency by market capitalization, now below 9 billion dollars. Trading platforms like CoinGecko and TradingView reported the token trading at 0.24 dollars, down 3.6 percent on the day and 13 percent over the past month, in line with bearish trends across the crypto sector. A whale's sale of 940,000 ADA tokens for 4.14 million NIGHT tokens the day before a key network launch contributed to short-term selling pressure, though such isolated transactions did not alter...