Cardano whale verkoopt miljoenen tokens, ADA koers daalt – wat gaat Cardano doen?
Recently, Cardano whales sold millions of ADA tokens, causing the price to plummet, falling by more than 20% in just 48 hours. The price is currently at $0.9352 and is approaching the key support level. Traders are concerned about increased selling pressure and possible further losses. In this article we take a closer look at the impact of whale selling Cardano Price Prediction.
On Thursday, January 9, 2024, a prominent cryptocurrency expert posted on X (formerly Twitter) that crypto whales had dumped as many as 70 million ADA tokens.
The post was published on However, the effects of this massive sell-off are already showing in the ADA price, which has fallen by more than 20% since the sale began.
As of this writing, ADA is trading at $0.9352, down 14% over the past week. As uncertainty among traders continues to grow, the question arises: can Cardano turn things around, or if further losses are inevitable.
Whale activity has caused a sharp drop in ADA price, which is now close to a key support level. Strong selling pressure caused ADA’s market capitalization to fall to $32.87 billion, a drop of 6.08%, reflecting the severity of the market reaction.
Additionally, the stock-to-flow ratio fell from 291.37 to 288.50, indicating lower investor confidence, while scarcity and demand indicators were lower.
ADA Stock to Flow Ratio Bron: Santiment
Derivatives markets are also showing clear bearish signals. On Binance, the funding rate dropped from 0.01% to 0.0055%, indicating less bullish sentiment among traders with leveraged positions.
On the DYDX exchange, funding rates also fell, from 0.000334 to 0.000057, further highlighting the decline in market optimism. These developments suggest that traders are adjusting their positions to reflect increased volatility and downside risks.
The MVRV ratio, a measure of holder profitability, has fallen from 0.92 to 0.769. This suggests that ADA holders are suffering greater losses as the price continues to fall.
MVRV ratio. Brown: Santiment
These composite indicators show the impact of whale selling, which has left traders and investors lacking confidence in ADA’s near-term performance.
Despite the bearish outlook, ADA may find support at the key support level of $0.8335, which could trigger a technical rebound. However, for this to happen, bulls must digest the selling pressure and regain confidence.
If this support does not hold, ADA risks further declines, which could compound investor losses.
Cardano exchange rate. Source: TradingView
In conclusion, Cardano’s recovery will largely depend on the cessation of whale selling activity and the return of buyers to the market. If ADA holds key support, a rebound is possible. However, given current indicators pointing to bearish momentum, a quick recovery appears challenging in the short term.
Given Cardano’s pessimistic outlook, it would be wise to alternative cryptocurrencies Discover which ones are more suitable. These tokens are offered in a pre-sale format with a fixed price and are less sensitive to the corrections the cryptocurrency market is currently experiencing.
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Go to Wall Street Pepe official website
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If you want to be one of the first investors, you now have the opportunity to purchase SOLX tokens for $0.001596 each. The official Solaxy website allows you to link your wallet and make payments using cryptocurrencies or credit cards.
With over 1 million members, the widely recognized Best Wallet is expanding its ecosystem. This extension is introduced by Best Wallet Token (BEST)which provides additional benefits to users in the Best Wallet mobile app. Through this initiative, they have successfully raised over $6.8 million.
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