Cardano Whales Accumulate $204M ADA Amid Price Recovery

Cardano’s large holders have demonstrated significant conviction in the cryptocurrency’s prospects following last week’s price dip below $0.50. According to on-chain analytics firm Santiment, whales and sharks—wallets holding between 100,000 and 10 million ADA—have collectively accumulated 348 million ADA over just four days. This massive purchase, valued at approximately $204.3 million, represents about 0.94% of Cardano’s total circulating supply, indicating a substantial vote of confidence from major investors.

The timing of this accumulation coincides with ADA’s sharp recovery from its November 5th low of $0.48. The cryptocurrency surged more than 20% to reach around $0.60 by November 10th, though it has since experienced a slight 2% pullback to approximately $0.58. Historical patterns suggest that such concentrated buying activity from large holders often precedes sustained price recoveries, provided broader market conditions stabilize. The $204 million investment represents one of the most significant whale movements in Cardano’s recent history.

While the recent price action and whale accumulation are encouraging signs, technical analysis suggests Cardano faces a crucial test in establishing a definitive bullish trend. Crypto trader Trend Rider noted in a recent analysis that ADA is currently testing the lower limit of its trend band, showing signs of consolidation after the strong recovery from early-November lows. His assessment indicates that while short-term momentum has improved, the broader trend remains neutral to bearish without a decisive breakthrough.

The key technical level to watch is the $0.70 resistance zone. According to Trend Rider’s analysis, ADA must reclaim and hold above this threshold to confirm a reversal back into bullish territory. The current consolidation around $0.58 represents a critical juncture where either renewed buying pressure could propel the cryptocurrency toward this target, or failure to maintain momentum could see a retest of recent lows. The substantial whale accumulation provides fundamental support for a potential upward move.

Beyond price action and technical indicators, Cardano’s network fundamentals demonstrated robust growth throughout the third quarter, providing a solid foundation for the current recovery. Messari’s Q3 report revealed that Cardano’s decentralized finance (DeFi) total value locked (TVL) climbed 28.7% to $423.5 million, marking its highest level since early 2022. This substantial growth in DeFi activity indicates increasing utility and adoption across the ecosystem.

The network also experienced explosive growth in its NFT sector, with trading volume surging 561.7% during the quarter to reach $262,450. This dramatic increase suggests growing interest in Cardano’s digital collectibles and non-fungible token capabilities. Additionally, the ecosystem saw significant developments in infrastructure and governance, including Midnight—Cardano’s privacy-focused sidechain—partnering with Google Cloud to integrate its privacy layer with enterprise-grade infrastructure and Mandiant’s threat analysis tools.

Governance improvements further strengthened Cardano’s position, with the network transitioning from an interim Constitutional Committee to a fully elected body. This move reinforces Cardano’s commitment to community-led decision-making and decentralized governance, potentially making the platform more attractive to institutional investors seeking transparent and community-driven blockchain ecosystems. These fundamental improvements across multiple sectors provide a compelling backdrop to the current price recovery and whale accumulation activity.