Cardano (ADA) has seen a sharp recovery since plunging below $0.50 earlier this week. After touching lows near $0.48 on November 5, ADA surged more than 20% to reach around $0.60 by November 10th.<\/p>\n
While it has slipped about 2% in the past 24 hours to around $0.58, a bullish turnaround may be brewing as top ADA investors accumulated nearly 1% of the total supply this week.<\/p>\n
According to on-chain analytics firm Santiment, Cardano\u2019s large holders have significantly increased their positions following last week\u2019s price dip below $0.50. In the past four days, whales and sharks, wallets holding between 100,000 and 10 million ADA, have collectively accumulated 348 million ADA. This stash is worth approximately $204.3 million, and the\u00a0accumulation represents about 0.94% of Cardano\u2019s total circulating supply.<\/p>\n
The surge in buying activity points to renewed confidence among major investors despite recent market volatility, and previous instances have shown<\/a> that such accumulation phases often lead to price recoveries if broader market sentiment stabilizes.<\/p>\n Crypto trader Trend Rider noted<\/a> in a recent post on X that ADA is currently testing the lower limit of its trend band. He stated that ADA must reclaim the $0.70 level to confirm a reversal back into bullish territory. At present, ADA is showing signs of consolidation after a strong recovery from its early-November lows. The trader\u2019s analysis reveals that while short-term momentum has improved, the broader trend remains<\/a> neutral to bearish unless the price can break and hold above the $0.70 zone.<\/p>\n Beyond price action, Cardano\u2019s network fundamentals also showed notable strength last quarter. Messari found that its DeFi\u2019s total value locked (TVL) climbed 28.7% in Q3 to $423.5 million, its highest level since early 2022. Additionally, NFT trading volume on the network surged 561.7% during the quarter and reached $262,450.<\/p>\n The report also noted that Midnight, Cardano\u2019s privacy-focused sidechain, partnered with Google Cloud to integrate its privacy layer with enterprise-grade infrastructure and Mandiant\u2019s threat analysis tools. In governance, Cardano transitioned from an interim Constitutional Committee to a fully elected body, reinforcing its move toward community-led decision-making.<\/p>\n The post Here\u2019s Why Cardano (ADA) Might Be Ready to Bounce Back<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Cardano (ADA) has seen a sharp recovery since plunging below $0.50 earlier this week. After touching lows near $0.48 on November 5, ADA surged more than 20% to reach around $0.60 by November 10th. While it has slipped about 2% in the past 24 hours to around $0.58, a bullish turnaround may be brewing as […]<\/p>\n","protected":false},"author":0,"featured_media":112131,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-112130","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/112130"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=112130"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/112130\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/112131"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=112130"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=112130"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=112130"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Cardano Ecosystem in Q3<\/h2>\n