Cardano (ADA) Whales Accumulate 40M Tokens Amid Bullish Signals

Cardano (ADA) is drawing attention as whale investors accumulate over 40 million ADA in just 48 hours, signaling renewed bullish sentiment. According to on-chain analyst Ali, this large-scale accumulation reflects growing confidence in ADA’s price outlook and long-term prospects.

This surge in whale activity coincides with a critical moment for the Cardano network. In a recent X post, Cardano founder Charles Hoskinson acknowledged the platform’s progress and the challenges it has faced. He emphasized that while Cardano’s original design prioritized security and academic rigor, it also slowed development and deterred contributors due to its rigid approach.

However, Hoskinson noted a turning point in 2025, highlighting the introduction of agile teams like Aiken and Midgard to complement Input-Output Research (IOR) and formal verification efforts using Agda. This shift aims to accelerate innovation while maintaining the scientific foundation that underpins Cardano.

On the technical side, ADA bounced off its 50-day simple moving average (SMA) at $0.67 on May 8 and completed an inverse head-and-shoulders pattern. It then surged past the 200-day SMA at $0.79, hitting a high of $0.846 before facing resistance. As of now, ADA trades at $0.801, up 16% over the past week.

Momentum remains strong, with the RSI in bullish territory. If ADA holds above key moving averages, a move toward $1 is likely. However, if bearish pressure returns, a drop below $0.676 could push the price down to $0.60 or even $0.50.

With whale accumulation, technical breakout patterns, and ecosystem growth, Cardano’s outlook remains bullish as it approaches a key developmental phase.