Over the past three weeks, large holders of Cardano have acquired more than 210 million ADA, while the token fell to about $0.36, according to a post linked below. (Ed. note: exchange reserves have slightly fallen, reducing immediately available supply.) According to a tweet, “210 million Cardano $ADA bought by whales in the past three weeks!” Data shows.
Price action has been weak, with a 24-hour range near $0.36–$0.40 and a seven-day span of $0.36–$0.43. The slide accelerated amid renewed geopolitical tensions between the European Union and the United States, adding pressure across crypto markets.
On-chain metrics indicate the buying occurred while prices were depressed, suggesting preparation rather than reaction. Exchange balances dipped modestly, implying smaller demand spikes could have outsized price effects.
Technically, ADA sits at the lower edge of a weekly symmetrical triangle above a long-tested $0.36–$0.28 support zone; a break below could target $0.27. The 9-week EMA is near $0.41, and weekly RSI hovers around 33.
Derivatives data show cautious sentiment, with Coinglass reporting an open interest-weighted funding rate near -0.0037% (Coinglass shows). Separately, the Cardano Foundation backed a proposed $80 million adoption fund by Draper Dragon and Draper University (shared). The CME Group plans to list ADA futures, expected to begin trading on February 9, pending regulatory approval.
