Cardano (ADA) has faced sustained downward pressure in recent weeks, with its price falling below the critical $0.50 support level, raising fears of further declines. However, on-chain data from Santiment reveals a dramatic shift in behavior among large holders.
Between November 6 and November 10, 2025, wallets holding between 100,000 and 100 million ADA—often termed whales and sharks—aggressively accumulated 348 million ADA, valued at over $200 million. This represents nearly 1% of the circulating supply and occurred precisely as ADA dipped below $0.50, a key psychological level.
Historically, such rapid accumulation by these high-value investors has preceded strong price recoveries for Cardano. The accumulation curve spiked almost vertically, indicating that whales are buying during periods of weak sentiment, viewing ADA as oversold and undervalued.
Concurrently, ADA's price is attempting to reclaim the $0.58 to $0.60 resistance zone. A breakout above this range could signal renewed strength, potentially driving prices toward $0.65 or $0.70, but it requires consistent buy support, especially with Bitcoin influencing broader market trends.
Beyond price action, Cardano's ecosystem fundamentals support the positive outlook. In Q3 2025, the network recorded growth in DeFi, NFTs, and stablecoin liquidity. The total value locked (TVL) in DeFi protocols increased by 17.6% quarter-over-quarter to $341.6 million, fueled by expansions in projects like Liqwid and a diversifying protocol landscape.
Risks remain if ADA fails to hold above $0.60 and Bitcoin retraces, potentially leading to a retest of supports at $0.47 to $0.50. However, the scale and timing of whale accumulation suggest growing confidence in Cardano's long-term prospects, including upcoming governance upgrades and controlled supply growth toward a maximum of 45 billion tokens.
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