Cardano Whales Stop Selling

The number of ADA whales, defined as addresses holding between 10 million to 100 million ADA, reached a monthly high of 409 on December 14 before beginning to decline.

Since December 22, this number has stabilized, fluctuating between 404 and 405, indicating that major investors have paused significant accumulation or distribution activities.

Monitoring whale activity is crucial as these large holders can significantly influence the price of an asset through their buying or selling behavior. The recent stability of ADA whale addresses suggests that the market is in a consolidation phase, with neither accumulation nor distribution occurring strongly.

In the short term, this may mean that ADA's price could remain within a certain range as whale activity lacks a decisive momentum. $ADA