- Cardano price decreased by more than 10% today.
- Whales accumulated over 130 million Cardano tokens in the past 3 days.
The broader crypto market is showing bearish signs with over 7% decrease in overall crypto market cap. As Bitcoin fell below the $80,000 mark, fear is spreading across the market. Even the crypto fear and greed index read 21 today, reaffirming the fear sentiment. Meanwhile, Cardano’s ADA price dropped by more than 10% today.
Cardano (ADA) price decreased by 11.78% at press time and the token is trading at $0.5966. Its market cap has also decreased by 11.84% and is hovering above $21 billion. However, its 24-hour trading volume increased by around 15% and is standing above the $1 billion mark.
Cardano’s price has been falling for the past one month. It recorded daily, weekly, and monthly declines of 11.78%, 25.74%, and 36.12% respectively. Despite the Grayscale Cardano ETF filing announcements and project developments, ADA is struggling to move to higher prices.
Whales Accumulate 130 Million Cardano (ADA) Tokens
Over the past 72 hours, whales bought more than 130 million #Cardano $ADA! pic.twitter.com/1L6pCFaKvJ
— Ali (@ali_charts) February 28, 2025
Renowned market analysts Ali Martinez posted on his official X account regarding ADA whale accumulation. As per his findings, whales accumulated 130 million ADA tokens in the last 3 days. These whales already hold 10 – 100 million Cardano’s ADA tokens. The graph posted by Ali clearly demonstrates how ADA price is falling as the whale accumulation is rising.
Cardano witnessed a considerable decline in daily active addresses in the last 3 months. The metric reached a peak of nearly 100,000 in December 2024. It now fell below 25K as of February 2025. This metric’s decline shows the reduced usage of Cardano over the past few months.
On the other hand, Grayscale’s ADA ETF filing news is circling across the media channels. This, combined with Cardano project’s developments such as Draper University collaboration and integration of XRP with its Wanchain’s bridge is bringing positive market sentiment into the market. However, Cardano’s market price is struggling to increase in value.
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