The Cardano blockchain has seen a drastic reduction in high transaction volume activity, traditionally associated with whale movements. The sudden and massive outage has caused a near paralysis of network activity.
The Cardano blockchain has seen a drastic reduction in high transaction volume activity, traditionally associated with whale movements. The sudden and massive outage has caused a near paralysis of network activity.
On-chain metrics indicate a marked decline in the number of large transactions, which are typically indicative of whale behavior. Such a precipitous drop often heralds a change in network dynamics, but in this case the reasoning is not transparent. The reasons – whether accumulation, redistribution or another factor – are currently speculative at best, leaving much room for interpretation and concern.

Long-term observation of Cardano on-chain activity suggests a gradual decline in whale activity. This trend could involve various strategic moves by major holders, such as phases of quiet accumulation or strategic asset redeployment. However, the lack of clarity and transparency makes it difficult to determine the precise motives or implications for the Cardano ecosystem and its holders.
Cardano Price Analysis
Looking at the ADA price chart, the technical analysis presents a worrying picture. ADA price is hovering around the $0.46 mark, a level that has historically served as support as it has been tested three times before, particularly in October. However, the absence of substantial purchasing power and the current decline in volume suggest a weakened defense at this support level.
The prevailing market sentiment, coupled with Cardano-specific fundamental issues such as a lack of widespread utility beyond transactions and payments, and its ongoing legal challenges, contribute to a bearish outlook for the asset. The confluence of these factors may well cause a new price drop.
If the $0.46 support level does not hold, the next significant support lies at $0.4136. A breach below this threshold could cause ADA value to plummet further, which could lead to lower support levels that have yet to be established.