By Nermeen Nabil Khear 
TL;DR
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Large investors sold over $70M worth of ADA, increasing selling pressure and potentially triggering further declines.
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Analysts see $0.80 as key resistance, while a potential US SEC approval of a spot ADA ETF could fuel future gains.
Whales are Cashing Out
Cardano’s ADA attempted to get back on the green track over the weekend, with its price briefly climbing to $0.75. In the past several hours, though, the bears retook control, and the valuation dropped to $0.71 (per CoinGecko’s data).
Some factors, including the recent whale activity, suggest that the pullback might intensify in the near future. The popular X user Ali Martinez revealed that large investors have sold over 100 million ADA in the last week. As of this writing, the stash equals more than $70 million.
Such sell-offs increase the token’s circulating supply, which could lead to a downward pressure on the price (assuming demand doesn’t catch up the pace). Additionally, those actions might trigger panic among smaller players, making them dump their holdings, too.
It is worth mentioning that a price correction for ADA has followed some of the previous offloads. At the start of February, whales parted with over 330 million tokens (worth almost $250 million at the time). ADA’s valuation tanked by more than 10% in the following days.
Price Predictions
Despite being deep into red territory on a monthly scale, ADA remains the subject of optimistic forecasts. The X user Joe Swanson recently claimed that the valuation needs to surpass $0.80 to confirm bullish momentum.
“A reclaim flips resistance to support, setting up higher targets. Watch for volume surge,” the analyst added.
For his part, Dan Gambardello opined that Cardano’s “supertrend” remains on pace, envisioning a price explosion to as high as $12.
Meanwhile, some important events that could happen in the following months could fuel a significant rally. One example is the potential launch of a spot ADA exchange-traded fund (ETF). The product will allow investors to gain exposure to ADA without directly buying, holding, or managing the cryptocurrency.
The world’s largest digital asset manager, Grayscale, displayed its intentions to introduce such an investment vehicle, and the US SEC has already acknowledged its application. According to Polymarket, the approval odds before the end of 2025 currently stand at almost 70%.
The post 100,000,000 ADA: Price Crash Incoming Following Extreme Offloading? appeared first on CryptoPotato.
ADA whales have returned to the scene, and their latest actions suggest that a price pullback is not out of the question. ADABTC, ADAUSD, Crypto Bits, Crypto News, Cardano (ADA) Price
This articles is written by : Nermeen Nabil Khear Abdelmalak
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