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Sujit Kumar
Feb 28, 2025
by Sujit Kumar

Cardano Whales Dump 170M Tokens as Price Drops to $0.65

Cardano Whales Dump

Table of contents

  1. Surging Public Interest in ADA and Other Assets
  2. Will ADA Hold the $0.65 Support Level?
Cardano (ADA) has witnessed a major sell-off by large holders, with over 170 million tokens being offloaded. This sell-off led to a drop in total whale holdings from 3.26 billion ADA to 2.98 billion ADA, aligning with a price decline from $0.83 to $0.65. The move suggests bearish sentiment among major investors, possibly anticipating further declines.

However, the lower price could present a buying opportunity for new and existing investors, potentially stabilizing the market in the coming days.

Surging Public Interest in ADA and Other Assets

Despite the sell-off, Google search trends for Cardano surged by 90%, according to TapTools. This indicates rising public interest in ADA’s future. Other assets like Polkadot (DOT) and Luna Classic (LUNC) also saw increased search volumes by 110%, likely due to market fluctuations.

Will ADA Hold the $0.65 Support Level?

Technical analysis suggests that ADA is currently trading near a crucial support level at $0.65, based on Fibonacci retracement levels. A sustained hold above this mark could push the price toward $1.00 and even $3.00 in a bullish scenario.

However, if ADA drops below $0.65, it could fall further to $0.30, confirming a bearish momentum shift. Analysts note that the Stochastic RSI indicates oversold conditions, hinting at a possible price recovery if bullish momentum builds.

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Cardano Whales Dump
Cardano Whales Dump 170M Tokens as Price Drops to $0.65
Sujit Kumar
Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

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