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Cardano Whales Stack 210M ADA, Igniting $1 Recovery Hopes

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Cardano Chart Analysis Source: TradingView

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Cardano continues to trade in a massive drawdown even after rebounding from the $0.30 lows. However, fresh on-chain data shows whales are back to aggressively buying ADA alongside other altcoins.

Large holders have stacked another significant volume in recent weeks, signaling renewed conviction despite broader market pressure.

This accumulation, combined with tightening supply and improving technical setups, is once again fueling speculation of a stronger recovery push toward higher levels.

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With interest creeping in, can it sustain a bullish sentiment for Cardano’s price?

According to data from Ali Martinez, a popular analyst on X, whales have bought 210 million Cardano tokens over the past three weeks. This level of accumulation signals strong interest from large holders.

In one of the latest buys, a whale deposited $7.9 million USDC into the Hyperliquid exchange, buying 6.46 million ADA for a position worth about $2.50 million.

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Whale activity is an indicator of informed money, suggesting the Cardano token price could be gearing up for a rally.

ADA Volumes Increase In The Derivatives Market

Cardano is seeing increased volume in the derivatives market, with traders now watching what comes next for its price.

Data from Coinglass shows that Cardano has increased 10,654% in futures volume on the Bitmex exchange, reaching $40.04 million.

This indicates a surge in activity in the derivatives market, given that Bitmex is a major derivatives exchange.

Can ADA Rally To $1?

Cardano’s price is currently consolidating near the $0.39–$0.40 region, holding above the short-term support zone at $0.33–$0.35, which buyers have defended following the recent sell-off.

This stabilization followed a sharp decline from the October highs, with demand stepping in near $0.33, a historically significant support level. The bounce from this area suggests selling pressure is easing, although bullish conviction remains cautious.

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ADA is trading around the 20-day EMA (~$0.39) but remains below the 50-day Simple Moving Average (SMA) near $0.48, which continues to act as a key overhead resistance. The downward slope of the 50-day SMA suggests the broader trend remains bearish unless ADA can reclaim and hold above this level.

Cardano’s Relative Strength Index (RSI) is hovering around 52, sitting near the neutral zone. This reflects modest momentum recovery without signs of overbought conditions, meaning price has room to move higher if buying strength increases.

Cardano Chart Analysis Source: TradingViewCardano Chart Analysis Source: TradingView
ADA/USD Chart Analysis Source: TradingView

From the 1-day ADA/USD chart perspective, Cardano could attempt a move toward the $0.45–$0.48 resistance zone, where the downtrend line and the 50-day SMA converge. A clean breakout above this area would be the first meaningful signal of a trend shift and could open the door for a move toward $0.60 in the medium term.

For ADA to realistically target $1, the price would need a sustained trend reversal, including a break above its resistance around $0.54.

Conversely, failure to break above the downtrend resistance could trigger another pullback, with $0.35 as initial support, followed by the $0.33 demand zone if selling pressure returns.

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Crypto World

Algorand Foundation Cuts Workforce By 25% Amid Market Uncertainty

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Cryptocurrencies, Business, Algorand

The Algorand Foundation, the organization behind the Algorand layer-1 blockchain, said it had made the “difficult decision” to reduce its headcount by 25% on Wednesday, blaming the crypto slump and wider uncertainty.

“This decision was not taken lightly and is in response to the uncertain global macro environment as well as the broader downturn in crypto markets,” the Algorand Foundation said in an X post.

The Algorand Foundation said the affected employees were “best-in-class contributors” and described the decision as “incredibly tough,” adding that it would support staff through the transition.

“We believe that we now have a more sustainable alignment of Algorand Foundation resources with the protocol’s long-term business, technology, and ecosystem priorities,” the foundation added.

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Algorand Foundation is gearing up for a big year ahead

The staff cuts come as the Algorand Foundation prepares for several milestones for the year ahead, including the next major release of its developer toolkit AlgoKit, the launch of the user-friendly Rocca Wallet, the development of a more robust commercial toolkit, and a focus on post-quantum security.

Cryptocurrencies, Business, Algorand
Source: Nik Bougalis

The Algorand Foundation said in its roadmap progress report in December 2025 that it made “significant progress” toward greater decentralization, having increased Algorand’s (ALGO) online stake from approximately 1 billion to 2 billion ALGO in just over a year.

The crypto industry has a history of cutting staff during market downturns. Bitcoin (BTC) is trading at $71,067 — 44% below its October all-time high of $126,000 — after falling as low as $60,000 on Feb. 6, according to CoinMarketCap.

Related: SEC Chair explains why NFTs fall outside of securities laws

Bullish CEO Tom Farley recently predicted that the crypto sector could see more projects acquired by larger firms in the coming months, potentially leading to redundancies, layoffs, and internal restructuring.

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Meanwhile, on Monday, blockchain data provider Messari announced a series of layoffs while its CEO, Eric Turner, stepped down to make way for the company’s “next phase” as an AI-first company. 

During the 2022 bear market, Coinbase reduced its workforce by around 18% as Bitcoin hit two-year lows near $21,000. Around the same time, Gemini, the trading platform founded by the Winklevoss twins, reportedly cut 10% of its staff amid the broader crypto slump.

More layoffs could follow if history repeats, with veteran trader Peter Brandt predicting the crypto market may not reach its bottom until the third quarter of this year. 

Magazine: Big Questions: Can Bitcoin save you from the dreaded Cantillon Effect?

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