Cardano Risks 31% Drop as Whales Dump 210 Million ADA

Cardano is under renewed selling pressure after whales offloaded about 210 million ADA, worth over $56.7 million, in the past week. The price sits near $0.27, just below the $0.28 resistance, and recent moves have stalled any recovery. Charles Hoskinson has rallied for the GENIUS Act and backed former President Trump’s criticism of banks, saying, “I agree with the President.

The banks amended the bill 137 times. They have to stop messing with it and trying to shut down the industry.” His support has not overcome weak investor sentiment, with large holders continuing to exit. On-chain metrics show the MVRV Long/Short Difference deep in negative territory, meaning short-term holders are in profit while long-term holders remain underwater.

Short-term selling tends to increase volatility and has kept buying interest low, complicating any sustained rebound. Technically, ADA has formed a bearish flag that projects roughly a 31.75% drop toward the $0.17 support if it fails to clear $0.28.

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