With the persistent downside performance of the Cardano price over the past few weeks, its short-term outlook is turning out to be uncertain and highly volatile.
However, investors’ action is telling a different story as sentiment quietly recovers among key ADA holders, which could impact and change the course of the altcoin in the near future.
Cardano (ADA) retested the $0.25 price level once again after the broader cryptocurrency market drawdown, reflecting a weakening and cautious environment.
Yet beneath the surface, investor behavior is beginning to tell a different story.
Despite this downside performance, which has persisted for months, investors’ activity is hinting at a growing bullish interest in the altcoin as accumulation steadily builds.
On-chain trends and wallet activity suggest that long-term traders remain resilient, a segment of the market that is currently drawing attention in the space.
This divergence between price performance and investor activity reinforces the idea of a growing conviction and dependence on the cryptocurrency and its future prospects.
At this point, ADA may face an extension of its bearish phase or trigger a rebound as investors continue to add to their positions.
Data from Santiment, a leading market intelligence and on-chain data analytics platform, revealed that the growing accumulation is centered around key whales and sharks.
After examining the amount of Cardano held by these key investors, the platform highlighted that they have been quietly buying up their holdings over the past 6 months.
During the period, the whales and sharks, wallet addresses holding between 100,000 and 100 million ADA, have cumulatively acquired more than 819.4 million ADA, valued at over $213.9 million despite ongoing market pressure.
Even with the price of Cardano falling by over 71% from $0.90 to $0.26, these investors remain unshaken by the pullback and have amassed about 1.6% of the total supply in the market.
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