- Whale wallets add 200 million ADA, signaling strong accumulation trend.
- ADA rebounds from 61.8% Fibonacci retracement, maintaining bullish outlook.
- Hoskinson links Cardano to Bitcoin, stressing shared UTXO-based architecture.
Cardano (ADA) has attracted notable interest from large investors in recent days. Santiment data shared by market analyst Ali Martinez shows that whales have acquired over 200 million ADA in the past 48 hours.
The buying has been most pronounced among wallets holding between 100 million and 1 billion ADA. This accumulation comes during recent price swings, indicating that high-net-worth investors are positioning for potential upside.
Historical patterns show that such whale buying often precedes bullish moves, providing optimism for short-term gains.
Hoskinson Highlights Bitcoin-Cardano Synergy
At the Rare Evo conference, Cardano founder Charles Hoskinson described the network as an ideal smart contract extension of Bitcoin. He noted that Cardano and Bitcoin share the UTXO (Unspent Transaction Output) model, which supports enhanced security and scalability.
Hoskinson said this design also improves interoperability across blockchain ecosystems. He projected strong growth for Cardano’s decentralized finance sector, highlighting a “TVL opportunity four times larger than the combined market capitalizations of Ethereum and Solana.”
His remarks reinforced the project’s potential to compete in the next wave of blockchain adoption.
ADA Technical Levels and Market Outlook
ADA is trading at $0.8281, reflecting a 3.33% gain in the past 24 hours. The price recently rebounded from the 61.8% Fibonacci retracement level at $0.7750, supported by an ascending trendline.
Immediate resistance lies at the $0.8475 daily support/resistance zone. A breakout above this level could open the way toward the $0.9388 Fibonacci extension. The 50-day moving average, near $0.7395, is acting as dynamic support.
The Relative Strength Index (RSI) stands at 61.75, showing bullish momentum without overbought conditions. The Moving Average Convergence Divergence (MACD) indicator remains positive, confirming ongoing upward pressure.
Sustained buying above $0.8475 would signal a continuation of the current uptrend. A rejection at that level could lead to a pullback toward the $0.7750 or $0.7244 support areas.
CoinCryptoNews reported previously that the Glacier Drop is now live after six years of Midnight’s development. Charles Hoskinson praised the team’s dedication. The Midnight Foundation thanked the community for its patience, passion, and support throughout the project.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
