Cardano (ADA) price is currently showing signs of a possible consolidation phase as large transactions have increased and then stabilized over the past few weeks.

In late September, ADA saw a significant spike in large on-chain transactions exceeding $100,000. However, after this spike, large transactions gradually decreased. Therefore, indicating that major market participants may be reducing their activity.

Large ADA transactions indicate consolidation phase

On September 26, ADA witnessed a significant spike in its number of large transactions, reaching a monthly high of 5,070. In short, large transactions refer to on-chain transfers worth more than $100,000.

Therefore, monitoring these transactions is essential to understand market behavior, especially since they often involve institutional investors or large market participants.

Read more: Earn Cardano – Learn how to stake ADA

Thus, these large players can significantly impact price movements, and their activity offers important insights into market trends and liquidity.

The increase in large ADA transactions on September 26 coincided with a positive price movement, where the token’s price increased, reaching over $0.40 between September 26 and 27.

This correlation suggests that the influx of high-value transactions may have contributed to or reflected a growing market interest in ADA during this period.

Number of Large ADA Transactions. Source: IntoTheBlock

However, after this spike, the number of large transactions began to steadily decline. On October 6, they dropped to 2,300, before recovering slightly to 3,000 the following day. This decrease in high-value on-chain activity could indicate a cooling-off period.

Without strong large-scale trading activity, ADA may not be in a clear uptrend or downtrend. This suggests that market participants are waiting for new developments or clearer signals before making their next significant moves.

This period of lower trading volume could mean that Cardano is in a holding pattern, with traders waiting for the next catalyst.

Cardano whales have been stable in recent days

Between September 6 and September 22, ADA whales reduced their holdings, with the number of addresses holding between 10 million and 100 million ADA falling from 405 to 388. However, since September 22, the number of ADA addresses holding between 1 million and 100 million ADA has become relatively stable.

Currently, 2,443 addresses hold between 1 million and 10 million ADA, while 391 addresses hold between 10 million and 100 million ADA, signaling little change in their positions.

ADA addresses holding between 1,000,000 and 100,000,000 ADA from Large Transactions. Source: IntoTheBlock

This stability indicates that ADA whales have halted their selling or buying activities, suggesting that they are in wait-and-watch mode.

Therefore, the lack of significant movements may imply that these large holders are waiting for clearer market conditions or signals before making their next moves, likely evaluating whether to re-enter or continue reducing their positions.

This pause in whale activity often points to uncertainty, where big players prefer to stay on the sidelines, waiting for more decisive market direction before taking action.

The article Cardano Whales Hit the Brakes and ADA Price Consolidates appeared first on BeInCrypto.