Cardano whales buy 240M ADA, price jumps 22%

Large holders of the Cardano cryptocurrency accumulated more than 240 million ADA tokens over a recent five-day period, a buying spree that coincided with a significant price rally for the digital asset. The accumulation, valued at approximately $175 million, contributed to a roughly 22% surge in ADA's price as it climbed from around $0.16 to nearly $0.19 in early August 2026.

On-chain data indicates wallets holding between 100 million and 1 billion ADA were responsible for the purchases, lifting their combined balance to about 14.5 billion tokens. This activity reflects a continuation of a longer-term accumulation trend observed throughout the year, where large investors added hundreds of millions of ADA during quieter market periods. Analysts suggest such strategic buying in subdued conditions allows major players to build positions without excessively moving the market against themselves.

The price rally saw ADA break through key technical resistance around $0.1812, a level that has since become a focal point for market sentiment. Following the surge, the price experienced a pullback, trading around $0.1801 to $0.1901 by August 3. Market observers note that holding above the...