MEXCCan Cardano Price Reach $1 As Whales Gobble 130 Million ADA?
Highlights
- ADA can reach $1 again as whales jostle for tokens.
- ADA whales have grabbed a significant volume of coins over the last three days.
- Cardano's ecosystem is brimming with network activity despite a drop in prices.
Cardano price has taken a hit in recent days but analysts are confident of a fresh rally for the asset. A massive whale accumulation by Cardano (ADA) whales is fuelling speculation for a price spike amid rising network activity.
Whales Can Send Cardano Price Across The $1 Mark
According to an X post by on-chain analyst Ali Martinez, Cardano whales have gobbled up 130 million ADA in the last three days. The total value of ADA accumulated by the whales stands at $97.5 million with retail traders contributing their fair share.
Pundits say the recent accumulation spree is an indicator for a potential rally for Cardano price. There is significant optimism that ADA can cross the $1 mark after prices fell to $0.70.
Prior to the decline to $0.70, Cardano’s price traded as high as $1.13 over a 30-day period. Now, rising whale activity is stoking belief for ADA to reclaim its previous highs but several hurdles stand in the way.
For starters, the network’s unique wallets trading (UWT) indicator has reached all-time lows. However, analysts say the dip in unique wallets is “the calm before the storm” before the start of a rally.
“Usually when the number of UWT dips below 1.5k per day, it doesn’t take long until something happens,” said one analyst.
ADA’s Ecosystem Continues To Buzz Despite Price Decline.
At the moment, ADA price is floating around the $0.7 mark but the ecosystem is alive with activity. Still reeling from the highs of its inclusion in the Crypto Strategic Reserve, institutional interest is climbing.
Furthermore, speculation around ADA for X payments has triggered theories that the asset is headed to $10. Cardano Foundation CEO Frederik Gregaard has confirmed that the network is working with NASA on satellite data and provenance capabilities.
Daily trading volumes for ADA stands at $777 million, down by 22.7% over the last. Despite the decline in volumes, analysts say Cardano is on course to flip Solana if it attracts more decentralized applications.
- Metamask Airdrop Countdown Begins as Wallet Team Registers Token Claim Domain
- $2.5T Citigroup Partners With Coinbase to Enable Stablecoin Payments
- Who Will Be the Next Fed Chair? Scott Bessent Confirms Final Five Candidates
- Mt. Gox Delays Repayments to 2026 as Trump-Backed American Bitcoin Adds 1,414 BTC
- Crypto ETFs Attract $1B in Fresh Capital Ahead of Expected Fed Rate Cut This Week
- Polymarket Traders Bet Ethereum Price to Hit $5,000 as Bullish Pattern Forms
- Dogecoin Price Prediction As Whales Scoop Over $300 Million- Is A Bull Run Ahead?
- Pi Coin Price Jumps 24% as 10M Tokens Exit Exchanges – Can Bulls Sustain the Momentum?
- Bitcoin Price Prediction If President Trump Announces Deal with China on October 30th- Can BTC Break $125k?
- Analyst Eyes Key Support Retest Before a Rebound for Ethereum Price Amid $93M ETF Outflows and BlackRock Dump
- Bitcoin Price Eyes $120K Ahead of FED’s 98.3% Likelihood to Cut Rates
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
