In the past two days, Cardano (ADA) whales have made significant moves, accumulating over 120 million ADA. This surge in buying activity has stirred interest in the crypto community, with many viewing it as a possible bullish signal for Cardano’s price action. Crypto analyst Ali reported that the whale accumulation occurred amid growing market optimism.
Bitcoin Rally Sparks Broader Market Momentum
Bitcoin’s price broke past the $110,000 mark for the first time in approximately two weeks. This upward move ignited a rally across the digital asset market. Riding this wave of positive sentiment, Cardano experienced four consecutive days of gains starting June 5.
Related article: Cardano Eyes $0.80: Can ADA Break Resistance This Week?
At the time of writing, ADA had climbed 4.32% over the past 24 hours to trade at $0.708. Earlier on Tuesday, it briefly reached $0.716, reflecting the strong buying pressure behind the coin. The large-scale accumulation by whales suggests growing confidence in Cardano’s future price trajectory.
24-hour price chart Source: Tradingview
Traders interpret this behavior as a signal that major holders expect further upside. On the technical side, resistance levels lie at the 50-day and 200-day moving averages, positioned at $0.724 and $0.82, respectively. Conversely, analysts identify support near the $0.60 level, which could come into play if the market turns downward.
Cardano Launches Groundbreaking Bitcoin DeFi Protocol
Simultaneously, Cardano continues to push technological boundaries. The network recently launched Cardinal, its first Bitcoin DeFi protocol. This innovative platform allows users to wrap Bitcoin UTXOs and engage in DeFi activities such as lending, staking, and borrowing.
Related article: Cardano in 2025: How ADA’s Ecosystem is Growing and Evolving
Notably, Cardinal enables trust-minimized cross-chain bridges by wrapping Ordinals from Bitcoin to the Cardano mainnet. These wrapped assets retain their 1:1 peg, function as NFTs or tokens, and are fully transferable, burnable, and compatible with various smart contract Layer 1 platforms not just Cardano.
Adding to the bullish developments, Cardano (ADA) is now accessible to U.S. users through Bitstamp via Robinhood, as recently announced. This expansion could further increase ADA’s adoption and liquidity in the North American market.The convergence of whale accumulation, positive market momentum, and major ecosystem developments paints a promising picture for Cardano’s near-term outlook.
