Large holders have made bold moves in the Cardano market, accumulating over 120 million ADA in the past 48 hours. This surge in activity comes amid rising optimism following a broader crypto market recovery led by Bitcoin.
Bitcoin’s going up above $110,000 has added enthusiasm to the broader digital asset market. After June 5, Cardano achieved increased value for four consecutive days, which started to attract top investors.
Analyst Ali points out that whales are purchasing ADA in large bundles, which highlights their belief in the coin’s potential over the following period. At press time, ADA trades at $0.708 after rising 4.32 percent in the past 24 hours, having reached a session high of $0.716 earlier Tuesday.
At this moment, the resistance levels are $0.724 and $0.82, which fall in line with the 50—and 200-day moving averages. If the price drops, support could be found close to $0.60.
Source: Ali-Chart
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New Developments Spark Interest in Cardano’s DeFi Landscape
The growing whale interest coincides with Cardano’s expanding role in decentralized finance. The network recently launched Cardinal, a protocol enabling Bitcoin integration into Cardano’s DeFi ecosystem.
Cardinal allows users to wrap any BTC UTXO, enabling yield through lending, staking, and borrowing. It also supports a cross-chain bridge, powering the first Ordinal transfer from Bitcoin to Cardano’s mainnet.
These wrapped assets maintain a 1:1 peg and are transferable, burnable, and compatible across major smart contract blockchains. This move enhances Cardano’s utility by linking it directly to Bitcoin’s liquidity.
In addition, ADA has been made available to U.S. users on Bitstamp through Robinhood, further expanding its reach in the retail market. This increased exposure supports the token’s rising demand.
With whale accumulation intensifying and ecosystem upgrades underway, market watchers are now closely eyeing whether ADA is preparing for a significant breakout.
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