Crypto Veteran Warns Cardano (ADA) Holders: Whales Massively Offloading Tokens!

As with almost any other top altcoin in the world, the ADA price was hit hard by the recent market crash, dropping to $0.57 before bouncing back

A crypto veteran has raised concerns over the recent sell-off by large Cardano (ADA) holders, as the token price struggles to recover from the market crash.

The ADA price, like most other top altcoins, took a hit during the recent market sell-off, dropping to $0.76 on January 31 and further to $0.73 on February 2 before bouncing back to trade above $0.73.

However, a closer look at the crypto veteran Ali Martinez’s market analysis reveals a more troubling trend than the simple price movements.

"Whales haven't bought the dip yet, which is a critical red flag for Cardano. This hesitation from major investors suggests they're either waiting for an even lower entry point or see limited short-term potential in ADA."

Large ADA Holders Sell-Off 330 Million Tokens

According to Martinez's analysis, large ADA holders, or "whales," have been offloading their tokens in a big way. The data shows that these deep-pocketed investors have sold over 330 million ADA tokens.

This large sell-off by whales corresponds directly with the declines in the ADA price, highlighting how the actions of these big players can have a significant impact on the market sentiment.

The sell-off by large ADA holders has been a key factor in the token's inability to fully recover from the recent market sell-off, despite showing some resilience and bouncing back from lows of $0.57.

As smaller investors try to gauge the market's next move and decide whether to buy, sell or hold their ADA tokens, they are advised to pay close attention to the movements of these large investors, who can provide early signals of where the market might be heading.

Their massive sell-offs can be like crystal balls for crypto trends, giving smaller investors a heads-up on potential shifts in the market.