The cryptocurrency market witnessed a notable resurgence over the past 24 hours, with Cardano’s ADA following the green wave. Nonetheless, the whales’ recent actions signal that a new correction might be knocking on the door. ADA climbed above $0.27 today (March 4), gaining about 3% on a daily scale, though it remains down roughly 2% over the past week. Its decline during that period coincides with a sell-off by large investors.
The renowned analyst Ali Martinez revealed that whales have ‘redistributed’ 230 million tokens: a stash currently valued at around $63 million. This cohort of investors now controls less than 13.7 billion ADA, or roughly 37% of the asset’s circulating supply. Since his graph shows a sizeable reduction in their holdings, it could be regarded as a significant sell-off that might weigh on the price for several reasons. They boost the amount of ADA available on the open market, and without a matching rise in demand, that extra supply can suppress the valuation.
Whale distribution also signals weakening conviction among large holders, a shift that smaller investors may find worrying and cause them to cash out as well. As CryptoPotato reported, they purchased almost 820 million ADA between August 2025 and February this year. Despite its daily resurgence, Cardano’s native token is still struggling to break out of its broader bearish pattern. Earlier this week, Martinez outlined $0.245, $0.112, and $0.051 as the next three lines of defense for the asset should it head south again.
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