Cardano (ADA) rose 4% in the past 24 hours, climbing from around $0.164 to above $0.17, with monthly gains of about 12%. The move comes as on-chain data suggests a shift from panic selling to accumulation, with whale holdings hitting their highest level since February 2023.
Whale accumulation hits 2.5-year high
Whale holdings of ADA increased to 25.6 billion tokens, representing nearly 70% of circulating supply — the highest level since February 2023. Analyst Ali Martinez reported that whales accumulated 30 million ADA worth over $5 million in the past month alone. That's a lot of tokens moving into big wallets, and it's happening while retail sentiment remains shaky.
Analyst sees bottom formation
Pseudonymous analyst 'The Boss' stated ADA may be transitioning from panic selling to accumulation. They pointed to higher lows and defense of a major demand zone between $0.1064 and $0.1503. If that zone holds, it could mark a local bottom. But the token has a long way to go before it recovers past losses.
Cardano ETFs see sustained inflows
Cardano ETFs have recorded 16 consecutive months of net inflows. That's a steady drip of institutional money, even as the spot price has struggled. It suggests some investors are betting on a longer-term recovery, not just a quick flip.
Hoskinson bullish on security and governance
Charles Hoskinson, Cardano's founder, compared Cardano's approach to Anthropic's rise in AI, emphasizing security and governance as key differentiators. He expressed happiness with Cardano's current state and expects strong growth over the next 12 to 24 months. That's a bold call given the token is down about 95% from its August 2021 all-time high.
The long-term picture
A $10,000 investment in ADA at its all-time high five years ago would now be worth approximately $500. Cardano has fallen roughly 84% since being mentioned by President Trump in March 2025 as part of a proposed US Strategic Crypto Reserve. The accumulation trend is encouraging, but the token still faces a steep climb. Whether whales keep buying or start distributing will be the key signal to watch in the weeks ahead.
