In the wake of recent market volatility and a significant crypto liquidation event, Cardano (ADA) demonstrated a remarkable resilience, largely attributed to the strategic actions of its largest holders. Following a sharp downturn, these 'whales' stepped in, effectively cushioning the asset against further losses and hinting at a potential recovery.
Cardano's Swift Rebound Amidst Market Turmoil
Following a sweeping $19 billion market liquidation, Cardano [ADA] faced intense selling pressure, pushing its price down by 20% to a low near $0.62. However, this downturn proved to be a buying opportunity for a specific class of investors. Large ADA holders, often referred to as 'whales,' quickly entered the market, accumulating millions of tokens. This timely intervention helped to stabilize ADA's price around $0.645, curtailing further declines and displaying early signals of a potential recovery, supported by subtle accumulation indicated by the Chaikin Money Flow (CMF) moving into positive territory.
Strategic Whale Accumulation Fuels Recovery Hopes
Concrete evidence of this strategic buying spree emerged from Santiment data, which revealed a notable uptick in wallets holding between 10 million and 100 million ADA. Between October 10th and 11th, the number of these significant addresses increased from approximately 466 to 472. This surge directly followed the market-wide crash, suggesting that these sophisticated investors capitalized on the discounted prices to expand their holdings. While the short-term market may retain a degree of caution after the historic sell-off, the proactive accumulation by whales provides a strong foundation for ADA's tentative climb back towards momentum.
