Accumulation of 819 million Cardano despite the 71% price drop; Is it time to return to the trend?

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Over the past six months, as Cardano’s price dropped 71% from $0.90 to $0.26, major holders of the digital currency have quietly added more than 819 million ADA to their reserves.

Data from the network shows that those Cardano whales with between 100,000 and 100 million ADA collected more than 1.6% of the total supply during this period. As a result, the share of this group in the total supply of ADA has increased from 66.84% to 68.44% in six months.

The crypto market has been under selling pressure and cautious sentiment during this time, and Cardano has lost several key supports. However, the continued accumulation of whales is a sign of long-term resistance and the possibility of a return to the bullish trend.

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Besides this, the development of the Cardano ecosystem with projects such as Midnight and cooperation with companies such as Moneygram, shows that the fundamentals of this network are still strong.

For retail investors, these developments can be a signal of a buying opportunity at low prices, but one should not forget that the market volatility is still high and entering without a detailed analysis of the conditions is very risky.