100M ADA sell-off sparks bearish wave – Is Cardano in trouble?
Cardano (ADA) has been experiencing a downturn, as suggested by recent market developments, including trading patterns and whale activity. Large holders of ADA, known colloquially as whales, have sold off substantial amounts of the cryptocurrency, contributing to a bearish sentiment. More specifically, wallets holding between 100 million and 1 billion ADA have disposed of over 100 million tokens within a 72-hour period. This considerable sell-off activity has coincided with Cardano's price falling below key technical support levels, prompting a bearish perspective among investors and traders.