Cardano whales might have sold on Sunday Trump Crypto Reserve News at $1.15. ADA price remain bullish but momentum is fading.
Cardano, Solana, XRP, and other “valuable altcoins” could form part of the United States crypto reserve if Donald Trump’s post on Truth Social is anything to go by. Following this news, crypto prices ticked higher, lifting the total crypto market valuation above the $3 trillion mark.
This happened on Sunday. Fast-forward three days, and most altcoins are back in the red, struggling against a wave of selling seen on March 3.
What’s Going on With ADA Crypto? Did Cardano Whales Cash Out?
It is now emerging that when Cardano (ADA) prices rose on Sunday due to Donald Trump’s endorsement; whales took the opportunity to distribute their coins. ADA whales sold their holdings in simple terms, forcing prices lower on March 3 and possibly slowing the expected recovery to new March 2025 highs.
According to Santiment, a blockchain analytics platform, the number of large ADA transactions involving addresses holding over $100,000 worth of the coin rose to a three-month high on Sunday, March 2.
Cardano’s brief, major breakout to $1.13 came in tandem with the most whale activity in over 3 months. The sudden jump in $100K+ transfers sparked a drop in the average age of $ADA sitting in wallets, indicating a rise in tokens now back in regular circulation on the network. pic.twitter.com/bGliMmEesx
— Santiment (@santimentfeed) March 4, 2025
As mentioned, while ADA prices rallied on this news, Santiment analysts note that prices retreated nearly 20% from their peak, sparking speculation about whether whales capitalized on the news to offload their holdings.
Whales are usually closely monitored. They can influence price and sentiment since they control large amounts of the coin.
For example, if whales begin sending coins to exchanges, it could suggest they are uncertain about the future and looking to cash out.
Conversely, doubling down, increasing their holdings, and participating in DeFi can be interpreted as confidence that prices will recover.
ADA Price Bullish But Upside Momentum Dropping
If Santiment’s findings are accurate, the question remains: Were whales cashing out and planning to re-enter at lower prices, or are they expecting protracted losses in the coming months and exiting at highs?
From the ADA daily chart, the coin is within a bullish breakout formation. Although prices recoiled on March 3, the uptrend from March 2 remains intact.
Specifically, ADA is still within the bullish breakout formation from Sunday, validating the uptrend set in motion in November 2024 when Donald Trump emerged as the winner of the hotly contested General Election in the United States.
(ADAUSDT)
Technically, ADA has a ceiling of $1.35. If bulls build on the momentum of March 2 and prove the whales wrong, ADA may march toward new 2025 highs in a welcome buy-trend continuation formation.
Decentralizing and Grayscale Cardano Endorsement
Presently, Cardano is decentralizing as it fully transitions to the Voltaire era. The Cardano constitution was ratified in late February following a governance vote on the Conway Genesis—the first time this has been done.
The Cardano constitution effectively acts as a “social contract” for the entire ecosystem, providing a dependable framework for the community to participate in governance. ADA holders can help manage the Cardano Treasury and shape how the network evolves.
As of 1/6/2025, GSCPxE’s Fund Components were a basket of the following assets and weightings.
As a result of the rebalancing, Sui $SUI has been added.$SOL $ADA $AVAX $SUI $NEAR $DOT
Important disclosures: https://t.co/kxdodVbS4S pic.twitter.com/qsmHbPG4ED— Grayscale (@Grayscale) January 8, 2025
Additionally, Grayscale recently added ADA to its Smart Contract Fund, making it the third-largest holding at around 18%. This reinforces institutional confidence in the Ethereum competitor. The Grayscale Fund now includes Avalanche, Solana, Ethereum, Polkadot, and NEAR Protocol.
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Did Cardano whales dump ADA on crypto reserve news? What does it mean?
- United States plans to create a crypto reserve including altcoins like Cardano
- Santiment data shows that Cardano whales likely sold after prices soared on Sunday
- ADA bullish but momentum is fading
The post Did Cardano Whales Cash Out on President Donald Trump’s Crypto Reserve News? appeared first on 99Bitcoins.
