{"id":48302,"date":"2025-02-27T17:33:10","date_gmt":"2025-02-27T17:33:10","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=48302"},"modified":"2025-02-27T17:33:10","modified_gmt":"2025-02-27T17:33:10","slug":"millions-of-ada-sold-by-cardano-whales-during-market-crash-will-the-decline-continue","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=48302","title":{"rendered":"Millions of ADA Sold by Cardano Whales During Market Crash \u2013 Will the Decline Continue?"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

Cardano\u2019s ADA dropped by double digits in a week, with whales offloading over 170 million tokens, potentially signaling more downward pressure.<\/p>\n

Hopes for a rebound rest on the potential approval of a spot ADA ETF filed by Grayscale, which could attract traditional investors and boost demand.<\/p>\n

<\/a><\/span><\/h2>\n

More Pain Ahead?<\/h2>\n

Cardano\u2019s ADA was trading well above $0.80 towards the end of last week. However, the start of the new business week offered<\/a> a lot of pain for the bulls, with the asset plunging to as low as $0.63 (per CoinGecko\u2019s data). ADA slightly rebounded over the past several hours to the current $0.67. Still, this represents a 15% decline on a seven-day scale.
\n<\/span><\/p>\n

<\/a>ADA Price, Source: CoinGecko<\/p>\n

According to some factors, the negative trend could be far from over. The popular analyst, going on X as Ali Martinez, estimated<\/a> that whales dumped more than 170 million ADA in the span of 96 hours. The stash equals almost $115 million (going at current rates).<\/span><\/p>\n

Continued efforts of that type would create an influx of tokens on the open market, potentially overwhelming demand and <\/span>hav<\/span>ing a negative effect on<\/span> the price.<\/span> Additionally, the whales\u2019 actions <\/span>are closely monitored<\/span> by some smaller players who could follow suit and intensify the selling spree.\u00a0<\/span><\/p>\n

Earlier this month, Martinez <\/span>maintained<\/span><\/a> that ADA\u2019s most critical support stands between $0.67 and $0.70. \u201cAs long as this level holds, the bull run remains intact,\u201d he claimed <\/span>at the time<\/span>. <\/span>As mentioned above<\/span>, though<\/span>, the valuation briefly tanked below the depicted level.<\/span>\u00a0<\/span><\/p>\n

The Potential Price Catalyst<\/span><\/h2>\n

While the overall environment looks <\/span>quite<\/span> grim, one <\/span>important<\/span> factor might bring back the green candles. <\/span>This<\/span> is the possible launch of a spot ADA exchange-traded fund (ETF) in the United States, whose chances of approval before the end of 2025 have <\/span>risen<\/span><\/a> to 67% lately.<\/span><\/p>\n

The improved odds result from the SEC\u2019s <\/span>acknowledgment<\/span><\/a> of Grayscale\u2019s application to introduce such an investment vehicle.\u00a0<\/span><\/p>\n

The product will allow investors to gain exposure to ADA without needing to directly purchase, store, or manage the cryptocurrency. <\/span>This<\/span> simplifies the process, especially for traditional investors unfamiliar with crypto wallets and exchanges.<\/span><\/p>\n

Additionally, the world\u2019s largest digital asset manager \u2013 Grayscale \u2013 operates under regulatory frameworks, providing a layer of security and transparency. That might be particularly attractive to risk-averse investors who might be hesitant to enter the volatile crypto market.\u00a0<\/span><\/p>\n

The post Millions of ADA Sold by Cardano Whales During Market Crash \u2013 Will the Decline Continue?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR Cardano\u2019s ADA dropped by double digits in a week, with whales offloading over 170 million tokens, potentially signaling more downward pressure. Hopes for a rebound rest on the potential approval of a spot ADA ETF filed by Grayscale, which could attract traditional investors and boost demand. More Pain Ahead? Cardano\u2019s ADA was trading well […]<\/p>\n","protected":false},"author":0,"featured_media":48303,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-48302","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\/48302"}],"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=48302"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/48302\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/48303"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=48302"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=48302"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=48302"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}