ADA Price Tries To Stabilize At $0.54 While Whales Dump 4 Million Tokens

• ADA recovered about 1% to trade near $0.54 after losing more than 33% over the past month.
• On-chain data shows Cardano whales holding 100,000 to 1,000,000 ADA sold over 4,000,000 ADA in a week, signaling sell-side pressure.
• Price is still stuck in a descending channel above $0.53 support, while Midnight’s 1 million+ addresses give the ecosystem a growth anchor.

Cardano (ADA) saw a mild rebound of around 1% on Thursday, trading near $0.54 after a brutal month-long decline that wiped over 33% from its value. The recovery, however, comes amid signs of growing unease in the market as whale wallets continue to offload large holdings.

Whales Trim Holdings As ADA Price Stays Weak

According to data shared by analyst Ali Martinez, Cardano whales, wallets holding between 100,000 and 1 million ADA, have sold more than 4 million tokens over the past week. This steady redu…

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