Cardano (ADA) is showing an increase in activity after ADA whales accumulated a significant amount of tokens.

Data from Santiment shared by analyst Ali Martinez indicates that wallets holding between 1 million and 100 million ADA added 100 million coins in the last 24 hours, increasing to about 18.65 billion ADA.

100 million Cardano $ADA scooped up by whales in the last 24 hours. pic.twitter.com/nA8qNyGBkB

— Ali (@ali_charts) August 20, 2025

Meanwhile, the price of ADA has been trading between $0.86 and $0.88 after pulling back from recent highs near $1. The increase in whale accumulation during this dip suggests that larger investors are taking positions at lower levels.

This type of buying has almost always provided support amid market corrections.

At the time of this publication, ADA was trading at $0.88, with a 3% rise in the last 24 hours, although it remains 10% down over the last week. The recovery in crucial support areas has provided stability to the token after prolonged drops in recent weeks.

Analyst Javon Marks noted that the current price structure of Cardano shows similar patterns to its previous market cycle. Comparative charts indicate that ADA may be forming the same corrective and impulsive phases that preceded its previous rally.

The analyst suggested that if the pattern repeats, ADA could be heading towards $8, which would represent an increase of over 740% from current levels.

Activity in the derivatives market

Futures and derivatives also point to growing interest from traders. According to Coinglass, the open interest in ADA fell 4% to $1.61 billion, while trading volume dropped 18% to $5.27 billion.

Despite this, the funding rate turned positive at 0.0072%, meaning that longs are paying shorts. Additionally, CryptoPotato recently reported that futures volume