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ADA Accumulation Surges: Cardano Whales and Veterans Signal Patience Over Panic

19 hours ago
Bitcoin Ethereum News

Cardano sees 200M ADA whale purchases as patient long-term investors hold firm with $0.83 resistance in sight.

 

Over 200 million ADA tokens worth about $166 million were purchased by large Cardano holders in just 48 hours. This sharp accumulation comes as the ADA price holds steady around $0.81 while traders watch the $0.83 resistance level.

Market data shows both whale buying and long-term holder commitment at a time when selling pressure remains muted.

Cardano Whale Activity Drives Buying Momentum

Blockchain data indicates that whale addresses holding between 100 million and 1 billion ADA have increased their holdings sharply since August 9.

According to analyst Ali Charts, this is the largest two-day buying event from this group in recent months. Spot exchange inflows totaled $11 million during the same period, followed by another $3.61 million in purchases.

This activity coincides with ADA approaching a key technical range between $0.84 and $0.88. Analysts have identified $1 as a major psychological target if this initial resistance is cleared.

Historical trading patterns show that previous moves above $0.83 have often triggered further rallies.

Long-Term Holders Maintain Accumulation Strategy

On-chain analyst Alphractal reports that long-term ADA investors have been steadily accumulating since 2021. These holders have avoided major distribution despite price volatility, suggesting they are prepared to wait for larger moves.

Short-term holders also appear less willing to sell into small rallies compared with the 2021 cycle.

This lower selling pressure comes as ADA’s market “temperature” remains in a neutral zone. The composite reading, which combines metrics such as MVRV Z-Score and Net Unrealized Profit/Loss, shows the market is not overheated. This leaves room for further price growth without immediate risk of a sharp reversal.

Technical Signals and Ecosystem Developments

Technical indicators currently align with a bullish trend for ADA.

The 10-day through 200-day moving averages remain in a buy configuration, while the relative strength index is at 63, below overbought levels. Analysts note that a confirmed break above $0.8332 could open a path to $0.88 and $0.92.

Cardano’s recent network upgrades and token events have added to market interest. The Midnight Network launched its NIGHT token airdrop on August 5, with half of the tokens allocated to ADA holders.

On August 8, the Hydra protocol was updated to improve transaction throughput and network efficiency. Both events have been cited as factors that could strengthen long-term engagement.

Source: https://www.livebitcoinnews.com/ada-accumulation-surges-cardano-whales-and-veterans-signal-patience-over-panic/