Cardano (ADA) Sees Whale Accumulation Ahead of Berlin Summit
- Cardano’s price increased by 2.2% to $0.70 as large holders bought the dip.
- Whale and mid-tier wallets acquired approximately 200 million ADA, valued at about $140 million, over a two-day period.
- The upcoming Cardano Summit in Berlin on November 12–13 is expected to provide a positive narrative for Q4.
- eToro launched ADA staking in the U.S., potentially reaching over 40 million users.
- Network “spent coin” metrics declined by 51%, indicating reduced selling pressure.
The accumulation of ADA by whales and mid-tier wallets comes as the market prepares for the Cardano Summit, which could boost sentiment and visibility within the ecosystem. The introduction of staking options via eToro further supports ADA’s price stability by reducing liquid supply.
Cardano’s ability to hold above key price levels like $0.70–$0.80 is crucial for maintaining its recovery structure, with significant resistance at $0.86 potentially opening pathways to higher targets if surpassed.
