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Cardano Whales Dump ADA as Bearish Pressure Increases

Cardano (ADA) is struggling, and its largest holders are scaling back their activity. On-chain data reveals that ADA whales have been gradually reducing their holdings over the past week. If this trend continues, ADA could face further downside pressure.

Cardano Whales Reduce Exposure

According to IntoTheBlock, the netflow of large ADA holders has dropped 90% in the last seven days. These major investors, who control more than 0.1% of ADA’s circulating supply, are either selling off their holdings or pausing accumulation.

ADA Large Holders Netflow. Source: IntoTheBlock

This decline in whale netflow weakens market confidence, reducing liquidity and increasing volatility. If large investors continue to step back, ADA could struggle to recover.

ADA Funding Rate. Source: Santiment

Adding to the bearish outlook, ADA’s futures market funding rate has turned negative (-0.005%), signaling a rise in short positions. A negative funding rate means traders are betting against ADA, reinforcing bearish sentiment.

ADA Price Prediction: Bearish Trend Strengthens

ADA’s price remains below the red line of the Super Trend indicator, a key signal of bearish momentum. When an asset trades below this indicator, selling pressure dominates.

  • If ADA continues to decline, it could drop to $0.70.
  • If traders regain confidence and start accumulating, ADA could rebound to $0.82.

For now, market sentiment remains negative, and ADA must regain momentum to reverse the trend.

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Disclaimer: Not Investment Advice

it’s crucial to understand that the information provided here is not to be construed as investment advice. The crypto market is dynamic and highly speculative, and decisions should be made based on thorough personal research and consideration of individual risk tolerance. Always consult with financial professionals and conduct your own due diligence before making any investment decisions. The intention of this exploration is to present insights and trends, not to provide specific investment recommendations.

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