Cardano Whales Sell 4 Million ADA

[kit_hung]

Famous market guru Ali Martinez is saying that the whales have sold more than four million ADA this week and that means selling pressure has increased and the market may have high volatility. Wallets with ADA between one hundred thousand and one million have been selling and that shows the sentiment of those big investors has changed. ADA is sideways around 0.582. The bullish momentum has decreased and people are starting to have doubts.

Hoskinson who is the founder of ADA said that the TVL drop is not a technical issue but is due to low DeFi activity and low liquidity. Cardano's fundamentals are still clean. Scalability, security and interoperability are still there but DeFi adoption is behind Ethereum, Solana and Avalanche.

Hoskinson also saluted Bitcoin for its legacy when the white paper turned 17 years old. It is like the Chinese proverb that a big tree starts from a small seed.


Source: zycrypto

 

[gwolf666]

From my perspective, ADA's current situation reflects a market that's in a kind of pause or indecision. It's normal that when large investors, the so-called "whales," start selling in large quantities, the market becomes more volatile and generates doubts among smaller investors. The drop in DeFi activity on Cardano is also a factor influencing its value and perception, although Hoskinson's team assures us that the fundamentals remain solid. I think it's important not to be swayed solely by short-term fluctuations and to remember that projects like Cardano have long-term potential, especially in terms of scalability and security. The comparison with Bitcoin is valid, since any large project starts with a seed and requires time to grow and consolidate. Although there's uncertainty now, I don't think it's the time to lose faith in its future development.