Cardano price falls 15.70% over the past seven days. Consequently, it trades near $0.234 at press time. Meanwhile, large investors reduced holdings by more than 110 million tokens. Additionally, network participation weakened.
Why Cardano price falls as whales sell 110M ADA
Specifically, crypto analyst Ali Martinez reported the data on October 13. Also, he cited Santiment figures. In fact, Cardano whales sold over 110 million ADA in five days. For example, that amount was worth about $25.7 million at $0.234. However, that value does not show actual selling prices.
Meanwhile, daily active addresses dropped 41.36%. Specifically, they fell from 27,248 to 15,977. As a result, Martinez linked lower activity and whale selling to weakening participation. Thus, he warned of further pressure if price structure fails.
ADA breaks $0.24 support
According to TradingView , ADA traded near $0.232. Currently, it was down 6.65% over 24 hours. Notably, its market cap stood near $8.78 billion. Meanwhile, daily trading volume reached about $530.8 million. Consequently, the token ranked 17th by market value.
Meanwhile, trading activity increased during the selloff. Similarly, a separate CoinmarketCap observation placed 24-hour volume at $533.3 million. In fact, that was a 40.60% increase from the previous day. Additionally, ADA remains about 92.42% below its peak of $3.09.
Specifically, Martinez identified $0.24 as important support. Also, it sits within Cardano’s ascending price channel. With ADA below that threshold, his analysis points to $0.21. Thus, that is the channel’s lower boundary. However, his projection is conditional, not guaranteed.
Previously, analysis around $0.21 support found similar risk. Specifically, that followed a rejection near $0.28 in early October. Previously, the October 8 analysis placed ADA around $0.232. However, daily momentum indicators were weakening then.
ADA technical indicators show fading buying momentum
On the daily chart, Cardano traded at approximately $0.23388. Specifically, it recovered modestly intraday. For instance, the token recovered from June lows near $0.14–$0.15. Additionally, it formed higher lows through September. However, its advance stalled below $0.28–$0.37 resistance.
Meanwhile, immediate support appeared between $0.22 and $0.23. Then $0.20 followed. Meanwhile, resistance stood around $0.25–$0.28. Therefore, a sustained move above $0.28 would improve the recovery structure.
Specifically, the Know Sure Thing indicator stood at 120.4649. Specifically, that is below its signal line of 163.5224. Still, both readings remained positive. Nevertheless, the downward movement showed weakening buying momentum.
Meanwhile, the Awesome Oscillator registered 0.00653. Additionally, it remained slightly above its zero line. Consequently, shrinking positive histogram bars indicated fading upward momentum. However, the indicator had not turned negative in the supplied reading.
Additionally, a separate October 12 assessment identified support between $0.224 and $0.240. For example, it recorded negative daily MACD momentum. It also found overhead liquidation concentrations around $0.258–$0.262.
Cardano records 1.78 million transactions in five days
Despite lower daily active addresses, Cardano recorded a record transaction count. Specifically, Cexplorer reported Epoch 660 processed 1,780,896 transactions. Later, that happened between October 6 and October 11.
Consequently, this total exceeded the previous record. Previously, the old record was 1,566,974 transactions in Epoch 304. Specifically, that occurred in November 2021. Meanwhile, Cexplorer recorded an average of 83.83 transactions per block. Also, network fees reached approximately 337,720 ADA. Specifically, the average transaction fee was around 0.19 ADA. Thus, that equals about $0.05.
Meanwhile, the increase coincided with governance voting activity. Meanwhile, Cardano’s Delegated Representatives participated in decisions. For example, proposals included changes to stake pool operator minimum costs.
Subsequently, the voting period ended during the record epoch. However, data does not show how many transactions came from voting. In contrast, transaction totals measure processed operations. In contrast, daily active addresses track wallets differently.
Cardano Card to close on October 31
Meanwhile, the Cardano Card program will discontinue payment services on October 31, 2026. Specifically, the official account confirmed the closure. Also, it said payment partner Wirex is moving away from custodial infrastructure.
Consequently, the card will operate under current arrangements until the cutoff. Therefore, affected customers should contact the team. Then they should await further instructions. However, no replacement provider or launch date was confirmed.
Previously, the card originated from a November 2025 partnership. Previously, EMURGO and Wirex announced it at the Cardano Summit. Then, the service integrated into the Wirex app. Notably, that platform served over six million customers across 130 countries then.
Overall, the program let eligible users spend ADA and other digital assets. Additionally, it offered crypto payments, account services, and certain rewards. Consequently, the October 31 closure follows Wirex’s move to a non-custodial model. However, Cardano Card said more information would come after transition plans are reviewed. However, it did not confirm a replacement card.
What comes next for Cardano price falls
Cardano faces weak participation and whale selling. Therefore, the $0.21 support level is critical. Thus, a break below could invite more downside. Conversely, a recovery above $0.28 would improve the structure. For now, ADA remains under pressure.