According to on-chain data analyzed by crypto analyst Ali Martinez, Cardano whales have sold or redistributed a staggering 130 million ADA tokens over the past week. Martinez shared a Santiment chart showing whale holdings dropping from approximately 13.65 billion ADA to 13.55 billion ADA during this period, indicating significant selling pressure from large holders.
The analyst suggests this massive movement is likely a sell-off, contributing to ADA's recent price weakness. This follows earlier reports of whales moving over 230 million ADA, further increasing selling pressure on the asset. The price action reflects this pressure: ADA soared to $0.28 on March 5 but subsequently lost 12.52%, falling to $0.24 by March 9. The coin has since recovered slightly to trade around $0.26-$0.2622.
"130 million Cardano $ADA have been sold or redistributed by whales in the past week," Martinez stated in a tweet on March 12, 2026, accompanying the Santiment data.
Market data shows ADA is down 4.0% over the past week and 0.7% over the past month, with only a modest 1.1% rise today, pointing to persistent bearish sentiment. Whale selling of this magnitude typically creates downward price pressure and can trigger further selling momentum, especially when large amounts are deposited onto exchanges.
Amidst this selling pressure, Cardano founder Charles Hoskinson hinted at a potential countermeasure. In a YouTube video shared on March 11, Hoskinson discussed a revised plan for Cardano's ecosystem funding structure and hinted at a potential buyback mechanism to drive ADA prices up and bolster investor sentiment, addressing perceived ineffectiveness in the current treasury model.
Despite the whale-driven downturn, ADA has shown relative strength among altcoins, only slipping from the top 10 to the 11th spot by market capitalization. The news of adoption provides a contrasting positive narrative, as ADA is now accepted as payment in 137 SPAR supermarkets in Switzerland via Open Crypto Pay, a move driven by community calls for expanded ADA utility. This follows the recent launch of the USDC stablecoin on the Cardano blockchain.
