Cardano Whales Accumulate ADA as Price Struggles Near Support

Cardano is drawing attention after large holders scooped up over 30 million ADA in the last week. This buying activity briefly moved the token into the top 15 list by market capitalization. While that position was short lived, data shows that wallets holding between 100,000 and 100 million ADA have reached their highest combined balance in over three years. Total large wallet holdings now stand at 5.69 billion coins.

Prices are currently hovering around $0.165 as the token tests key support levels. Technical analysts are watching the $0.172 mark as a primary resistance point. If buying volume picks up, traders believe the price could push toward $0.180. However, if the market turns bearish, the price could drop toward the $0.148 level, where previous support has been established.

Cardano founder Charles Hoskinson remains optimistic about the project returning to the top 10 rankings by the end of the year. For now, the coin remains tied to broader market trends rather than specific project news. Investors are waiting for clear price confirmation before making aggressive moves, as the current environment favors caution among retail participants.