Cardano (ADA) Whales Sell Over 110 Million ADA in Five Days

110 Million ADA Leaves Large Holders

More than 110 million Cardano (ADA) left the wallets of large holders over five days, and the balance data used to measure the selling records no destination for the tokens. The figure comes from a chart series published by analyst Ali Martinez on October 12, built on Santiment's holder-balance breakdown, which tracks the combined holdings of the biggest address cohorts; Martinez's post, the second entry in a five-part thread, stated that the offloading was adding supply pressure as the token slid toward a defined level. The Cardano price has since given way: the coin lost 15.70% across seven days to trade near $0.234, and it now sits below the $0.24 shelf that the analyst's chart work had marked inside an ascending price channel. With that level broken, the channel's lower boundary near $0.21 becomes the next reference in the support and resistance map, a target Martinez frames as conditional on the weakness continuing rather than a call that another leg down must follow. The tape behind the flow was thin. CoinGecko data put Cardano (ADA) near $0.234 at the time of the reading, down 6.65% over 24 hours, with a market capitalization of about $8.78 billion, daily volume around $530.8 million and a rank of 17th among cryptocurrencies by market value. At that quote the 110 million tokens would be worth roughly $25.7 million notionally, although the balance series cannot show the prices at which they actually changed hands. Participation fell in step: daily active addresses dropped 41.36%, from 27,248 to 15,977, a decline Martinez tied to weakening engagement across the proof-of-stake network, warning that further pressure follows if the current price structure fails to hold. Among large-cap altcoins, ADA's pairing of a double-digit weekly loss with shrinking holder balances and shrinking address activity is the combination that makes the flow data, not the chart, the center of this story.

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Volume Spikes While Momentum Fades

Trading activity ran hotter into the selling. A separate CoinGecko observation put 24-hour volume at $533.3 million, a 40.60% jump from the prior day, and the token remains about 92.42% below its historical peak of $3.09, near the lower end of its recent range. On the daily chart Cardano (ADA) recovered from June lows around 0.14-0.15 and printed a series of higher lows through September before stalling under the $0.28-$0.37 resistance region; immediate support now sits between $0.22 and $0.23 with $0.20 behind it, while a sustained close above $0.28 would be needed to repair the recovery structure. A separate assessment of the $0.24 zone published October 12 set support between $0.224 and $0.240, recorded negative daily MACD momentum and flagged liquidation concentrations around 0.258-0.262 overhead, and our Cardano technical analysis page tracks these levels as they update. Momentum gauges agree the bid has thinned: the Know Sure Thing indicator read 120.4649 against a signal line of 163.5224, a bearish crossover with both readings still positive, and the Awesome Oscillator held 0.00653 just above zero with shrinking histogram bars. An earlier October 8 reading, written after the rejection near $0.28, had ADA around $0.232 with daily momentum already weakening toward the lower channel boundary. The participation picture is more mixed than the address count alone suggests: Epoch 660 processed a record 1,780,896 transactions between October 6 and October 11, surpassing the 1,566,974 set in Epoch 304 in November 2021, with an average of 83.83 transactions per block and fees of about 337,720 ADA flowing through the staking system at an average cost near 0.19 ADA, roughly $0.05 per transaction. Governance voting among Delegated Representatives ran through part of that window, though the data does not isolate how many of the record transactions voting generated. Away from the tape, the Cardano Card shutdown on October 31 adds a consumer-facing footnote, confirmed by the project after payment partner Wirex moved away from its custodial infrastructure.

Where the Sold ADA Went

The balance series measures a reduction, not a route. It does not say whether the 110 million ADA reached exchanges, moved between wallets under new labels or simply dropped out of the large-holder cohort, so any conclusion that smaller buyers absorbed the supply is unavailable from this record. What the figure does establish is directional: whale demand was not supporting the market during the five-day slide, and the live tape confirms the pressure, with our monitoring showing ADA about 7% lower over the past 24 hours. Separate whale transfers at a June 4 high point the same way. Until a destination for the sold tokens is recorded, the $0.21 channel boundary stands as a conditional marker only: it matters if the selling continues, and it proves nothing about the next leg if it does not.