Overview
- On-chain data show large holders bought roughly 210 million ADA over the past three weeks, including a wallet that deposited $7.9 million USDC to buy 6.46 million ADA around $0.38.
- ADA remains range-bound near $0.38–$0.44 and continues to track a multi-month descending channel, with a decisive break above nearby resistance needed to confirm a trend shift.
- Exchange balances declined modestly during the accumulation phase, suggesting reduced immediately available supply even as spot prices have yet to expand higher.
- Derivatives activity picked up, with BitMEX futures volume reportedly jumping to about $40 million and funding turning slightly positive as Binance top traders showed a 72.5% long tilt.
- Analysts note technicals are mixed and warn that concentrated holdings can heighten volatility, so accumulation alone does not guarantee a sustained advance.