- Whales have accumulated 410 million ADA, signaling strong confidence in a potential breakout.
- With rising open interest and bullish sentiment, Cardano could be gearing up for a major rally in May.
Cardano (ADA) is making waves in the crypto market once again as whale investors scoop up a massive 410 million ADA tokens — roughly valued at $285 million. This large-scale accumulation has sparked fresh optimism among traders and analysts, raising speculation that a major price breakout could be on the cards this May.
Despite a modest 1.69% dip in the last 24 hours, ADA has posted a 7.62% gain over the past month, signaling underlying bullish momentum. The short-term correction aligns with a broader market pullback, which saw total market capitalization fall back to $3 trillion. Still, sentiment around ADA remains positive, suggesting a potential upward reversal could be imminent.
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According to AMBCrypto, the recent whale activity isn’t just a random buy-in — it’s a sign of long-term conviction. Accumulating during periods of price weakness typically points to expectations of future gains. Supporting this view, NetFlow on spot markets has been consistently bullish, suggesting more ADA is being bought and held than sold.
Since March, nearly $416 million worth of ADA has been pulled from exchanges, reinforcing the idea that big players are preparing for a significant move. However, this has yet to materialize into a breakout, as ADA continues to hover around the key resistance level of $0.7034.
Technical indicators show that ADA is flirting with a breakout zone, with multiple liquidity clusters forming above the current price point. Analysts using TradingView and CoinGlass tools believe this liquidity may act as a magnet, pulling the price higher in the short term.
Adding to the bullish case, Open Interest in ADA derivatives has surged to $778.99 million, reflecting increased market participation. Furthermore, a positive funding rate of 0.0084% suggests that most traders are betting long.
All eyes are now on ADA’s ability to push past resistance. If momentum continues to build, Cardano may finally break free from its range and launch into a new bullish phase.
With whale accumulation, bullish NetFlow, and rising derivatives interest, ADA could be poised for a breakout — and May might just be the month it happens.