- Whales sold 100 million ADA in 72 hours, pressuring short-term prices.
- ADA trades between $0.62–$0.71, showing little movement this week.
- Grayscale’s Cardano ETF awaits launch, possibly sparking new inflows.
The past 72 hours have been intense for Cardano holders. According to on-chain data shared by analyst Ali Martinez, whales have sold around 100 million ADA in just three days. The move has put short-term pressure on ADA’s price, which is currently stuck below $0.70, struggling to break through its resistance levels.
Related: Cardano Gains Institutional Footing Despite Grayscale ADA ETF Holdup
The broader crypto market is also in a mild slump. Bitcoin trades near $110,925, down 2.17% in the past day, while Ethereum hovers around $3,930. Despite the red across the board, analysts say Cardano could be preparing for its next big move. Martinez also predicted that ADA may be primed for a mega breakout, with a confirmed push above $0.80 potentially sending prices toward $1.70.
Whales Selling, But Sentiment Stays Positive
Large-scale selling often sparks fear among retail investors, but it does not always signal weakness. Cardano’s fundamentals remain strong, with increasing development activity, growing TVL in DeFi, and continued ecosystem partnerships.
At the same time, many investors are watching the Grayscale Cardano ETF, which recently passed its SEC decision deadline with no announcement yet. This silence has left the market guessing whether the fund could go live soon, giving institutional investors a regulated way to gain exposure to ADA.
Could ETFs Push ADA Above $1?
Experts say a spot Cardano ETF could become a turning point for ADA, similar to how Bitcoin and Ethereum ETFs attracted billions in inflows. With Cardano’s market cap around $23 billion, even moderate institutional demand could push the price higher.
Grayscale’s latest filings show that Cardano meets the generic listing requirements under SEC’s rule 19b-4, meaning it could potentially list its ETF without needing direct SEC approval. That means ADA’s ETF could launch at any time, possibly catching the market by surprise.
Cardano Short-Term Prediction
Cardano continues to move within a tight range, showing little change over the past few weeks. The token is trading between support at $0.62–$0.65 and resistance at $0.67–$0.71, with neither side breaking strongly. The market has been quiet, leaving investors waiting for a clear move.
If ADA holds above its support, it could see a push toward the $0.80 level, but a drop below $0.62 might lead to a deeper correction near $0.55.
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