According to reports, Cardano whales sold nearly 200 million ADA in the past month, causing a drop in the digital currency’s price. Data from Sentiment indicates that wallets holding between 1 to 10 million ADA have sold a significant portion of their holdings. This selling pressure led to Cardano’s price dropping from $0.808 to $0.637, but then it bounced back to $0.673. The Cardano community reacted strongly to this sell-off, expressing dissatisfaction on social media. Many investors view this action as a factor eroding trust in the ADA market. Despite the sell-off pressure, CoinShares reports that Cardano had $63.3 million in capital inflows in the past month, with only $0.6 million entering the market in the last week. Compared to the previous week, Ripple, Solana, and Ethereum had better capital inflows with $4.8 million, $7.8 million, and $15 million respectively. Currently, ADA is trading around $0.673. Considering the capital inflow volume and slight price improvement, it is uncertain whether this selling pressure will lead to further declines or if investor demand can change the market trend. You can monitor the live prices of all tokens and cryptocurrencies on the real-time price page.
