Large Cardano holders, often called whales, have accumulated more than 210 million ADA over the past three weeks, according to blockchain data shared by analyst Ali Martinez.
This heavy buying happened while ADA’s price was under pressure, as the broader crypto market pulled back amid renewed tensions between the European Union and the United States. Instead of selling into the weakness, large wallets appear to have used the dip as a buying opportunity.
On-chain data shows that exchange reserves have declined slightly during this period, which suggests fewer ADA tokens are available for immediate trading. That typically points to accumulation rather than distribution.
From a technical standpoint, Cardano is trading near the lower boundary of a long-term symmetrical triangle on the weekly chart. It’s also sitting near a support zone that has held multiple times in the past. While ADA remains below its nine-week exponential moving average, the weekly RSI is hovering near levels that have previously led to short-term rebounds.
Derivatives data paints a mixed picture. The open interest–weighted funding rate has flipped between positive and negative in recent weeks. Negative funding rates usually signal that traders are leaning bearish and expecting further downside, even as whales continue to accumulate.
On the fundamental side, the Cardano Foundation recently backed a new proposal led by Draper Dragon and Draper University. The plan aims to boost Cardano adoption through targeted investments, capital deployment, and education initiatives. Any returns generated by the program would flow back into the Cardano treasury.
Adding to the longer-term outlook, CME Group is preparing to introduce Cardano futures, pending regulatory approval. If approved, Cardano would join a small group of major altcoins available through regulated U.S. derivatives markets.
Overall, the data shows a clear contrast: while price action and short-term sentiment remain cautious, large holders are steadily building positions, and new institutional and ecosystem developments continue to form in the background.
