Cardano (ADA) Price: Whales Are Buying the Dip - But Is It Enough to Stop the Slide?
TLDR
- ADA dropped over 7% this week, trading near $0.210 on Friday
- Whale wallets accumulated 160 million ADA tokens during the dip since Sunday
- The long-to-short ratio sits at 0.74, reflecting bearish sentiment among traders
- Cardano’s Leios testnet reached six times mainnet throughput over a 41-day test phase
- Mixed on-chain metrics and derivatives data leave ADA’s near-term outlook uncertain
Cardano (ADA) is trading near $0.210 on Friday after falling more than 7% this week. The drop has pushed ADA below the $0.220 level, drawing attention from both traders and on-chain analysts.
Despite the price weakness, whale wallets have been buying the dip. Santiment data shows wallets holding between 10 million and 100 million ADA accumulated 160 million tokens since Sunday. That signals continued long-term interest from large holders, though it has not been enough to reverse the short-term slide.
Derivatives data tells a mixed story. The long-to-short ratio for ADA sits at 0.74 on CoinGlass, near its lowest point in over a month. A ratio below one means more traders are betting on further price declines.
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