On-chain data confirms the withdrawal of 120 million Cardano from the 1 million to 10 million ADA range, possibly contributing to recent declines.
Cardano (ADA) has faced notable price fluctuations in the past week, reflected in the broader market. Starting at $0.70 on March 29th, ADA saw substantial volatility, coinciding with President Donald Trump’s reciprocal tariffs.
The price dropped to $0.61 by April 3 before rebounding to $0.66 the next day. At the time of this report, ADA changes hands at $0.6607, marking a 1.45% increase in the last 24 hours but a 5.92% drop over the past week.
Whale Activity Driving Cardano Price Decline?
The fluctuations in ADA’s price align with significant sell-offs by whales, according to data shared by market analyst Ali Martinez. Whales, or large holders, reportedly sold approximately 120 million ADA coins in the 48-hour period preceding his post.
Whales sold 120 million #Cardano $ADA in the last 48 hours! pic.twitter.com/U5sTa699tB
— Ali (@ali_charts) April 3, 2025
This likely contributed to the recent downtrend in Cardano’s price, as the number of ADA coins held by addresses with balances between 1 million and 10 million ADA has dropped from 5.84 billion to 5.71 billion.
Further analysis by IntoTheBlock also provides confirmation insights into these ownership trends. The platform divides Cardano’s ownership into three key categories based on time held: Hodlers (1+ years), Cruisers (1-12 months), and Traders (<1 month).
Notably, hodlers saw a minor decrease of 0.22%, while Cruisers experienced a significant 6.77% increase.
However, Traders saw a sharp drop of 16.36%. This shift suggests that while long-term holders remain relatively steady, short-term traders are increasingly leaving the market. Additional data show whale concentration has decreased by 1.68%, now accounting for 8.48% of the total ADA supply, while retail investors hold a majority of 71.17%.
Institutional Inflows Indicate Continued Interest
Despite these price fluctuations, institutional investors continue to show strong interest in Cardano. According to CoinShares, ADA experienced $0.6 million in inflows into exchange-traded products (ETPs) for the week ending March 31, contributing to a total of $63.3 million in March. This brings the total institutional inflows for 2025 to $70 million.
As of the most recent data, the total assets under management in Cardano-focused ETPs stood at $121.2 million. This steady institutional investment contrasts with the increased volatility in retail investment and suggests that institutional confidence in ADA remains intact.
Strong Future for Cardano Despite Withdrawals
Despite the ongoing price challenges, analysts are still bullish on Cardano’s future. Millionaire analyst Alex Becker, who had previously been skeptical of ADA, now predicts significant price surges for the asset.
In a recent YouTube commentary, Becker shared a list of eight coins he believes will experience 15x growth by 2026, with Cardano being one of them. He highlighted ADA’s “fast as hell” network and its status as one of the most decentralized blockchains next to Ethereum as key factors that will drive its future success.
Becker also outlined an optimistic price target for Cardano, predicting it could rise to between $3 and $5.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
