Cardano’s ADA Declines Following Reports of Major Holders Liquidating $100 Million

Cardano’s ADA Slips Below $0.61 as Whale Selling Triggers Breakdown

Cardano’s ADA extended its decline on Thursday, dropping over 6% in 24 hours to $0.605 after large holders reportedly sold $100 million worth of tokens, igniting a technical breakdown.

The selloff pushed ADA below the key $0.61 support level — a critical floor watched by traders — as trading volume spiked 42% above the weekly average. On-chain data cited on X shows wallets holding between 100 million and 1 billion ADA tokens led the selling spree over a three-day period.

The timing coincided with ADA approaching the upper end of a months-long consolidation near $0.70, suggesting strategic profit-taking by large investors. However, the breach of support leaves ADA vulnerable to a further pullback toward $0.55 if prices fail to reclaim the $0.60–$0.61 range, according to CoinDesk Research’s technical model.

At press time, ADA traded below $0.60, underperforming the broader CoinDesk 20 index, which fell about 5%. Cardano’s market capitalization now stands at roughly $22.5 billion, maintaining its spot among the top ten digital assets.

Despite the downturn, momentum indicators hint at possible stabilization. The Relative Strength Index (RSI) sits near 40 — a level often linked with short-term rebound potential — while the MACD is nearing a bullish crossover, signaling fading downside pressure if buying returns.

For now, traders are watching whether ADA can hold the $0.60 level and attract fresh demand as selling momentum shows early signs of exhaustion.