Large Cardano whale wallets—those holding between 100 million and 1 billion ADA—ramped up their holdings significantly, accumulating approximately 200 million ADA between August 9–10, equivalent to around $166 million. This strategic move helped propel ADA’s price upward by 2.82%.
At the same time, CoinGlass reported $11 million in net inflows, bolstering the bullish trend. Additionally, spot buyers contributed another $3.61 million in purchases, further reinforcing positive momentum.
Despite this optimism, derivative markets painted a more cautious picture. The long‑to‑short ratio slipped below 1, suggesting sentiment in perpetual futures remained conservative. A 21.49% drop in trading volume—down to $2.14 billion—also indicated waning short-term volatility.
Looking ahead, the critical $0.83 resistance level will be a key battleground: a breakout could drive ADA toward $0.93, while failure may invite renewed bearish pressure.
Sources: AInvest
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