Cardano whale accumulates over 210 million ADA as price weakens

Large Cardano wallets (ADA) have accumulated over 210 million tokens in the past three weeks, according to on-chain data shared by analyst Ali Martinez. This move comes amid weakening ADA prices, which have fallen more than 7% in the last 24 hours and are trading around $0.36.

In the past 24 hours, ADA has fluctuated between $0.36 and $0.40, while the 7-day range is between $0.36 and $0.43. Increasing market pressure along with new tensions between the European Union and the US have contributed to a general correction in the digital asset market.

The accumulation of 210 million ADA occurs while prices remain under pressure, indicating this may be preparation for the next phase rather than a short-term reaction. Data also shows a slight decrease in ADA on exchanges, implying that the available trading supply is shrinking, which could amplify the impact of small demand increases.

However, whale accumulation does not mean an immediate reversal. This is only a potential foundation, requiring further confirmation through volume and price momentum. On the weekly chart, ADA is moving close to the lower edge of the symmetrical triangle pattern and remains above the support zone around $0.36. If this level is broken, the price could retreat to the $0.27–0.28 area.

From a technical perspective, the 9-week EMA is around $0.41, and ADA is still trading below it, indicating that the sellers still hold the advantage. Only when the price recovers this level can it have a chance to target the $0.53 zone. The weekly RSI currently hovers around 33, a level often seen before short-term rebounds.

In the derivatives market, data from Coinglass shows that ADA’s funding rate is at a negative -0.0037%, reflecting cautious sentiment among futures traders. A negative funding rate usually indicates expectations of continued short-term price declines.

In other developments, the Cardano Foundation has expressed support for proposals by Draper Dragon and Draper University to establish an $80 million fund to promote Cardano adoption through investments, capital allocation, and education, with profits returning to the Cardano treasury. Meanwhile, CME Group is preparing to launch ADA futures contracts, expected to begin trading from February 9, pending regulatory approval.