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\n\t\t\t\t\t\t\t\t\tWhales and Sharks scooped nearly 1% of Cardano’s supply during the recent dip.\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n
Cardano (ADA) has seen a sharp recovery since plunging below $0.50 earlier this week. After touching lows near $0.48 on November 5, ADA surged more than 20% to reach around $0.60 by November 10th.<\/p>\n
While it has slipped about 2% in the past 24 hours to around $0.58, a bullish turnaround may be brewing as top ADA investors accumulated nearly 1% of the total supply this week.<\/p>\n
According to on-chain analytics firm Santiment, Cardano\u2019s large holders have significantly increased their positions following last week\u2019s price dip below $0.50. In the past four days, whales and sharks, wallets holding between 100,000 and 10 million ADA, have collectively accumulated 348 million ADA. This stash is worth approximately $204.3 million, and the\u00a0accumulation represents about 0.94% of Cardano\u2019s total circulating supply.<\/p>\n
The surge in buying activity points to renewed confidence among major investors despite recent market volatility, and previous instances have shown<\/a> that such accumulation phases often lead to price recoveries if broader market sentiment stabilizes.<\/p>\n Crypto trader Trend Rider noted<\/a> in a recent post on X that ADA is currently testing the lower limit of its trend band. He stated that ADA must reclaim the $0.70 level to confirm a reversal back into bullish territory. At present, ADA is showing signs of consolidation after a strong recovery from its early-November lows. The trader\u2019s analysis reveals that while short-term momentum has improved, the broader trend remains<\/a> neutral to bearish unless the price can break and hold above the $0.70 zone.<\/p>\n Beyond price action, Cardano\u2019s network fundamentals also showed notable strength last quarter. Messari found that its DeFi\u2019s total value locked (TVL) climbed 28.7% in Q3 to $423.5 million, its highest level since early 2022. Additionally, NFT trading volume on the network surged 561.7% during the quarter and reached $262,450.<\/p>\n The report also noted that Midnight, Cardano\u2019s privacy-focused sidechain, partnered with Google Cloud to integrate its privacy layer with enterprise-grade infrastructure and Mandiant\u2019s threat analysis tools. In governance, Cardano transitioned from an interim Constitutional Committee to a fully elected body, reinforcing its move toward community-led decision-making.<\/p>\nCardano Ecosystem in Q3<\/h2>\n
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