Cardano (ADA) is once again capturing the spotlight, with whales significantly increasing their holdings, a trend that could be a precursor to a major price surge in the near future. According to recent data from Santiment, ADA whales — wallets holding more than one million ADA — have been on an uninterrupted buying spree since late November 2023. During this period, these whales have accumulated a staggering 1.41 billion ADA, worth approximately $1.1 billion, which accounts for 2.35% of the total ADA supply.
🐳📈 Cardano’s market cap has recovered by +11% on a day where most cryptocurrencies have retraced. One thing to continue watching is the continued behavior of whales and sharks.
Wallets holding at least 1M $ADA have been consistently accumulating since late November of 2023,… pic.twitter.com/pTHCqRCRC7
— Santiment (@santimentfeed) February 11, 2025
This continuous accumulation has had a clear effect on ADA’s market performance. Over the past few months, as many cryptocurrencies saw their values retrace, Cardano’s market capitalization surged by 11%. Despite the overall volatility in the crypto market, ADA’s price has jumped 107% since the whale accumulation began. As of now, ADA is priced at $0.7731, although it’s down by 4.75% from its recent highs.
What’s Driving the Whale Buying Spree?
The driving force behind this massive whale activity seems to stem from several factors. First, the launch of a Grayscale Investments Spot ETF application to track the price of ADA has attracted attention, boosting the optimism surrounding the asset. Additionally, Cardano’s recent Plomin hard fork has strengthened the network’s fundamentals by introducing community governance, positioning Cardano as a leader in decentralized decision-making in the crypto space.
While the market remains volatile, experts suggest that these developments, coupled with the continued accumulation by large investors, signal the potential for significant price growth in the coming months. Analysts are optimistic that ADA could see further upside if the whale activity continues, especially as more institutional players and investors eye the project.
Looking Ahead: Could ADA Price Skyrocket?
Despite the inherent volatility of the cryptocurrency market, the consistent accumulation by Cardano whales shows confidence in the project’s long-term viability. While corrections and price fluctuations are inevitable, the momentum behind ADA could propel it to new highs, particularly with growing institutional interest and innovative upgrades to the network.
As more users and investors become aware of Cardano’s ongoing advancements, including its groundbreaking Plomin hard fork and the buzz surrounding the potential Grayscale and Tuttle Capital 2x Leveraged ETF products, the price of ADA could see significant growth.
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