Cardano (ADA) is showing signs of a strong comeback despite recent sell pressure from large holders. Whale investors offloaded over 270 million ADA coins last week, causing a sharp dip in price to $0.61 on June 5.
According to CoinMarketCap, ADA struggled to break the $0.68 resistance level and remained under its moving averages during the downturn. Nonetheless, the momentum changed with the onset of the new week when the cryptocurrency resumed its momentum.
On June 15, ADA traded between $0.63 and $0.64, recording a 3.1 percent daily increase to reach $0.645 at press time. The volume of daily trading increased 25.7 percent to 471.9 billion dollars, indicative of an increase in activity in the market.
Short-term profit-taking and fear of ensuing losses probably motivated the move of the whales into a selloff. Nevertheless, retail investors and minor stockholders became interested in ADA builds once again, and the price rose as a result of it.
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ETF Anticipation and Developer Activity Support ADA Recovery
One of the main factors behind this recovery is growing anticipation around a possible spot, the Cardano Exchange-Traded Fund (ETF). Analysts at Bloomberg have raised the approval odds for a Cardano ETF to 75 percent, increasing investor optimism.
Besides the ETF buzz, Cardano’s ecosystem has reported steady growth. Over 2,004 active crypto projects are now running on its smart contract network, suggesting ongoing development and user engagement.
Moreover, broader market gains have helped lift sentiment across the altcoin sector. Bitcoin posted a 1.9 percent increase, rising to $107,131 and setting the tone for ADA’s parallel recovery.
This combination of improving fundamentals and external market strength has allowed ADA to resist further declines. While whale exits placed pressure on the asset, positive catalysts have kept Cardano among the top 10 cryptocurrencies by market cap.
Despite a major whale selloff, Cardano’s price has rebounded as ETF hopes and project growth revives market sentiment. With trading volume rising and key resistance levels now in sight, ADA could maintain upward momentum if current conditions persist.
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