Cardano nears $0.20 as whales add 240M ADA in five days

Cardano rose 12 percent to $0.184 over the past week as whale wallets accumulated 240 million ADA, pushing the token toward a key breakout level.

Santiment data shows wallets holding between 100 million and 1 billion ADA added more than 240 million tokens over five days, a haul worth roughly $175 million at current prices. The buying coincided with a 22 percent rebound in ADA's price, according to analyst Ali Martinez, who cited the same on-chain data.

Derivatives activity confirms fresh capital entering the trade. Futures volume climbed 33.95 percent to $773.9 million over 24 hours while open interest rose 5.64 percent to $500.6 million, per CoinGlass. Short liquidations reached $1.6 million versus $484,000 in long liquidations over the same period, indicating bearish positions were forced to close as prices climbed. Binance top trader accounts held a long-to-short ratio above 2.08, while the broader market sat near 1.00.

ADA faces immediate resistance at $0.184-$0.185, with the next supply zone in the mid-$0.20 area. A decisive break above current levels could open the door to that range, while losing the $0.173 Ichimoku support would invalidate the recovery structure.

Whale accumulation tightens exchange supply

The accumulation pattern is not new. Throughout 2026, large holders have been on a sustained buying trend, adding almost 820 million ADA during one six-month stretch earlier this year. The recent five-day sprint of 240 million tokens fits into that pattern, according to Crypto Briefing's analysis of Santiment data.

Purchases of this size typically reduce liquid supply on exchanges because acquired tokens are moved into long-term holdings rather than remaining on trading platforms. Lower exchange supply can push price moves higher when fresh buying enters the market, allowing relatively modest demand to produce stronger gains.

Dijkstra roadmap and Leios testnet extend the timeline

Cardano's development roadmap has also contributed to the rally. Intersect, the member-based organization coordinating Cardano's decentralized governance, outlined the first steps toward the Dijkstra hard fork era after the community approved Protocol v11, also known as the Van Rossem hard fork, through on-chain governance. The next phase will introduce improvements for smart contract execution, scalability, and developer throughput.

Separately, Input Output Global confirmed the launch of the Leios testnet in June 2026, targeting a 10x to 65x throughput increase and moving Cardano toward 1,000-plus transactions per second, with mainnet planned by the end of 2026.

The daily chart shows ADA trading around the upper boundary of the Ichimoku Cloud after spending several weeks below it. Price has moved above the conversion and base lines clustered near $0.173, turning that region into the first support zone. The Supertrend indicator remains below price near $0.158, indicating the broader daily trend favors buyers. The middle Bollinger Band at $0.169 acts as another dynamic support level. Volume has strengthened during the latest advance, adding confirmation to the breakout attempt.

The August 9 date when ADA becomes eligible for consideration under the SEC's updated spot-ETF framework after six months of regulated CME futures trading adds a potential institutional driver. Cardano's DeFi total value locked remains near $94 million, roughly 87 percent below its previous peak, and the Cardano Foundation's 2026 Summit funding proposal failed to reach the two-thirds DRep threshold. These headwinds suggest the current rally needs sustained on-chain buying to push through the $0.20 barrier.

This article is for informational purposes only and does not constitute investment advice.