Cardano whales scoop up 200M ADA in 48 hours as price echoes past bull run — Is a breakout next?

Cardano traded at $0.8219 at press time, up 1.6% over the past 24 hours and 12% in the last week as whale buying pressure accelerates.

Cardano’s ( ADA ) 7-day range stands between $0.7134 and $0.8332. Trading volume over the past day hit $1.29 billion, down 3.6%, suggesting a slight cooling of spot activity. While open interest rose 0.42%, CoinGlass’s derivatives data shows that futures volume dropped 10.22% to $2.25 billion. This indicates that traders might be holding onto positions despite lower turnover.

Cardano whale buying and ecosystem catalysts

On Aug. 11, analyst Ali Martinez reported that over 200 million ADA had been purchased by whales within 48 hours. In a separate analysis, Martinez indicated that ADA’s price is mirroring its previous market cycle structure, though unfolding at a slower pace.

According to Martinez, if buying momentum continues, this pattern might position ADA at the “start of an explosive move,” possibly paving the way for a bigger rally.  At the same time, the  Cardano ecosystem has seen notable developments .

On Aug. 5, the Midnight Network launched the NIGHT token airdrop, targeting 30 million wallets across eight blockchains, with 50% reserved for ADA holders. Over 470 million NIGHT tokens have been redeemed, indicating strong community engagement and potentially deepening long-term holder commitment.

Cardano also released an update to its Hydra scaling protocol on Aug. 8, increasing transaction throughput and network efficiency. This move may boost on-chain adoption and activity.

Cardano technical analysis

The overall trend remains bullish , with all of the major moving averages, from the 10-day to the 200-day, indicating a “Buy.” The short-term EMAs (10–50) have risen above significant support zones, indicating strong market momentum. Oscillators are largely neutral, and the momentum and MACD indicators are in “Buy” territory.

Cardano daily chart. Credit: crypto.news

At 63, the relative strength index is in bullish territory but below the 70-point overbought threshold. This allows for additional price growth before a possible correction.

A break above $0.8332 might pave the way for a move toward $0.88 and, if maintained, $0.92. In a bull market, ecosystem catalysts and whale accumulation might amplify the rally . A retest of the $0.75 support, where demand zones have historically drawn sizable buyers, could occur if the price fails to hold above $0.78.