Cardano (ADA) has seen some pretty tragic price action in the last couple of months, which has dragged its price down toward two-year lows. It still continues to maintain this downtrend and is barely moving, just like the rest of the crypto market, but some developments among large ADA investors could see some bullish momentum for the digital asset. Cardano Whales Begin Accumulating In New Year Toward the end of 2022 when momentum in the crypt market was dropping, there had been some selling from large ADA investors. This was not out of the ordinary as the holidays have historically triggered selling and profit-taking. Related Reading: MATIC Holders Suffer Massive Losses, Here’s How Many Wallets Are In The Red Cardano whales had sold over 569 million ADA during this time. The result was more selling pressure on the digital asset that dragged its price down below $0.25, making its lowest price point since early 2021. As Santiment notes, this saw the total holdings of investors holding between 1 million and 100 million ADA on their balances drop drastically just as 2022 dre ..
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