• Advertise with us
  • Pricing
  • Submit News
Instagram Twitter Facebook Telegram Youtube Linkedin
EdaFace Newsfeed
EdaFace Newsfeed EdaFace
  • News
    • Price Analysis

    Main News

    • Crypto News
    • Bitcoin and BTC
    • Altcoin News
    • Security & Hacks
    • ICO & Token Sales
    • Interviews & Profiles

    Information

    • Press Release
    • Research Report
    • Regulations, Law & Policy
    • Community/Guest Post
    • Events & Conferences
    • Tutorials & Guides

    Market

    • Technical Analysis
    • Price Analysis
    • Cryptocurrency Price Prediction
    • DeFi (Decentralized Finance)
    • Mining & Staking

    Other Categories

    • NFTs & Digital Art
    • Opinion & Editorials
    • Tech Innovations
  • Cryptocurrencies
    • Coin Ranking
    • Trending
    • EDA Token
  • Exchanges
    • Spot
    • Derivatives
    • DEX
    • EDA Plantation
  • Verification Centre
    • Rug Pull Check
    • Blockchain Ecosystem
    • EDA Token
  • MarketPlaces
    • NFT Marketplace
    • Digital Literature
    • Digital Mall
    • P2P Market
    • Metaverse
  • EDA Academy
More
  • News
    • Price Analysis
  • Cryptocurrencies
    • Coin Ranking
    • Trending
    • EDA Token
  • Exchanges
    • Spot
    • Derivatives
    • DEX
    • EDA Plantation
  • Verification Centre
    • Rug Pull Check
    • Blockchain Ecosystem
    • EDA Token
  • MarketPlaces
    • NFT Marketplace
    • Digital Literature
    • Digital Mall
    • P2P Market
    • Metaverse
  • EDA Academy
Reading: $200 Million ADA Sell-Off Sparks Concerns, ADA To Drop Below $1?
Share
Sign In
EdaFace Newsfeed
EdaFace Newsfeed EdaFace
EdaFace Newsfeed > Latest News > Crypto News > $200 Million ADA Sell-Off Sparks Concerns, ADA To Drop Below $1?
Crypto News

$200 Million ADA Sell-Off Sparks Concerns, ADA To Drop Below $1?

vitalclick
Last updated: December 18, 2024 4:00 pm
5 months ago
Share
SHARE

Contents
Whales Trigger Sell-OffTraders Lock In ProfitsMarket Sentiment Remains Balanced

Cardano’s (ADA) price has been declining recently, and concerns are growing that it could drop below the $1 support level. Notably, a key factor causing the drop is the selling activity by whales, who have been cashing out their coins to profit from their recent gains. 

Whales Trigger Sell-Off

As per data from Santiment, over the past week, whales holding between 100 million and 1 billion ADA have sold about $200 million worth of ADA. This has added selling pressure to the market, signaling a loss of confidence in the asset. As a result, this could also result in panic selling by smaller investors may also sell, further driving down the price.

Traders Lock In Profits

The recent profitability of ADA transactions has led to increased selloffs. Data shows that ADA’s Network Realized Profit/Loss has been positive over the past week, indicating that traders are selling for profit. This has likely encouraged other investors to sell, contributing to the price decline in recent days.

On-chain analyst Ali Martinez recently noted that Cardano whales took profits as ADA rose from $1.15 to $1.33. However, after the price dropped to $0.91, they started buying again, accumulating 160 million ADA since the dip. In a separate post he also noted that a massive surge in whale activity on the ADA network, as 687 transactions exceeding $1 million were recorded in the past 24 hours. 

Market Sentiment Remains Balanced

Also, over the last month, there has been notable growth among addresses holding between $1 million and $10 million in ADA, which rose by 67.29%. This increase is the most significant observed compared to other wallet categories. Despite this positive trend, the overall market remains balanced between bullish and bearish sentiment.

Currently, ADA is trading at $1.03, just below resistance at $1.07. If selling continues, the price could fall to around $0.92. However, if it breaks above $1.07, the price could rise to $1.34, which is the highest it has been in two years.

You Might Also Like

Crypto Investment Strategies for Maximum Profit in The Upcoming Bull Run

Will XRP Price Cross $10? Insights from Crypto Experts

Trump Media Execs Launch SPAC to Raise $179M Targeting Crypto & Tech

Polymarket on the Agenda with $50 Million Investment Tour! Cryptocurrency Launch on the Way!

November Analysis for NEAR Coin, Elections and Their Effects on Cryptocurrencies

TAGGED:CryptoNews
Share This Article
Facebook Twitter Email Print
Previous Article 14500x Winnings! Lucky Investor Turned His 6 Dollars into 87 Thousand Dollars with This Altcoin in a Very Short Time!
Next Article Breaking News: Altcoin Partnering with Trump Is Rising Rapidly
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Crypto Live Widget

Follow for Live Updates
Subscribe to our newslettern

Get Newest Articles Instantly!

- Advertisement -
Ad imageAd image
Popular News
Cryptocurrency Regulation in Russia : Blockchain Development
Current Cryptocurrency Regulations in India
Explore Cryptocurrency Regulation in South Korea
2 Altcoins Win Trial
Claimed Bitcoin Inventor Craig Wright Gets Shocked in Court! His Assets Are Frozen

Company

  • Vision
  • Mission
  • LitePaper
  • Whitepaper
  • Core Values
  • Branding
  • Teams
  • Career Listing
  • FAQ
  • Welfare Donations

Products

  • EDA Token
  • Blockchain Literature
  • EdaFace Dex
  • EdaFace Mall
  • Listing Platforms
  • Newsfeed
  • NFT Marketplace
  • P2P Market
  • Scam Verification Centre
  • School of Crypto

Legal

  • Term of Use
  • Privacy Policy
  • Disclaimer
  • Listing T&C
  • Listing Platforms
  • Eda Token Policy

Always Stay Up to Date

Subscribe to our newsletter to get our newest articles instantly!

EdaFace

About US

EdaFace is a user interface aggregator that brings all the various functionalities of the crypto industry onto a single platform! You can advertise, launch and crowdfund your crypto project via EdaFace Launchpad and Newsfeed.

Contact us: support@edaface.com

Follow us

Instagram Twitter Facebook Telegram Youtube Linkedin

Copyright © 2022 – 2024. EdaFace is a product of Emerging Digital Age (EDA) Pty Ltd. All Rights Reserved.

Join Us!
Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.
EdaFace
Welcome Back!

Sign in to your account

Lost your password?