Cardano jumps 22% as whales add 240M ADA
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- Cardano climbed about 22% from its July low as whales accumulated more than 240 million ADA over five days.
- ADA reached US$0.190 before easing to about US$0.186, while large-holder balances rose above 14.3 billion ADA.
- Technical analysis cited by crypto.news points to US$0.208 if ADA breaks and holds above key resistance.
Cardano (CRYPTO:ADA) climbed about 22% from its July low as whales accumulated more than 240 million ADA over five days.
ADA reached US$0.190 before easing to about US$0.186, remaining roughly 20% above its July 8 low near US$0.154.
“Whales loaded up. Cardano took off,” said crypto analyst Ali Martinez, citing Santiment data.
Whale holdings increased from about 14.1 billion ADA to more than 14.3 billion ADA during the five-day accumulation period.
Technical analysis cited by crypto.news puts a potential target near US$0.2083, provided ADA holds US$0.1808 and clears US$0.195.
Cardano's rally followed its July 18 protocol upgrade, while future scaling work including Ouroboros Leios remains another market focus.
ADA is also approaching six months of CME futures trading on August 9, which could become relevant for prospective US spot ETF applications.
At the time of reporting, Cardano price was $0.1955.
