Renowned market analyst Ali Martinez reports that whales have dumped over 4 million ADA in the past week, indicating growing selling pressure and potential volatility for Cardano. Source: Ali…
Renowned market analyst Ali Martinez reports that whales have dumped over 4 million ADA in the past week, indicating growing selling pressure and potential volatility for Cardano.
Martinez, who monitors on-chain activity, observed that wallets holding between 100,000 and 1 million ADA have been selling, signaling a potential shift in sentiment among institutional and high-net-worth investors.
Such large-scale movements often precede short-term price swings, as whale activity can significantly impact market liquidity and investor confidence.
Notably, this sell-off comes as Cardano trades sideways, with ADA struggling to sustain bullish momentum at $0.582. After showing strength in October, momentum has faded, fueling doubts about investor confidence ahead of upcoming ecosystem updates and broader market shifts.
Cardano (ADA) has plunged nearly 47% in three months, with its TVL stalled at around $240 million.
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Nevertheless, ADA founder Charles Hoskinson attributes the slump not to technical shortcomings but to a temporary dip in DeFi activity, emphasizing the network’s strong fundamentals despite investor unease.
Hoskinson responded to growing concerns over Cardano’s weak DeFi performance, asserting that the issue is “non-technical” and rooted in low user engagement and limited liquidity, not flaws in the network itself.
He emphasized that Cardano’s core fundamentals remain strong, highlighting its scalability, security, and interoperability as proof of the blockchain’s long-term strength and resilience.
Over the past year, Cardano has advanced its user base functionality and expanded developer activity. Yet, its DeFi adoption still trails behind Ethereum, Solana, and Avalanche, which lead in liquidity and transaction volume.
Why is this the situation? Well, Cardano’s slower growth can be attributed to its measured infrastructure rollout and the gradual migration of liquidity from rival ecosystems.
Meanwhile, Hoskinson recently saluted Bitcoin’s legacy and resilience with the apex cryptocurrency celebrating the 17th anniversary of its white paper.
