🔵 Cardano Whales Accumulate — While Retail Investors Remain on the Sidelines

Cardano falls, stalling its weekly rise and raising concerns about a morning star pattern.

Large investors are buying ADA while shops are selling it, according to on-chain data.

Open Interest in derivatives increased.

After a Doji candle, Cardano (ADA) drops under 1% at press time on Wednesday. Whales are supporting Cardano, while regular investors are selling, showing a fall in risk appetite.

The ADA open interest jump signals increasing purchasing activity and a leverage-driven advance.

Cardano retail investors sell

Since June 1, investors holding 10 to 10,000 ADA have sold 10 million tokens, reaching 2.46 billion ADA, according to Santiment. A token trading below $1 is usually held by ordinary investors.

In June, they bought 270 million ADA tokens from significant investors with more than 10 million ADA, increasing their holdings to 18.23 billion ADA from 17.96 billion.