Cardano's Trading Volume Drops Sharply Amid Whale Accumulation

Cardano's trading volume on decentralized exchanges has experienced a significant decline, dropping over 95% in just two weeks. According to NS3.AI, this decrease indicates a notable reduction in retail participation. Despite the downturn, large holders of ADA, often referred to as whales, have been accumulating millions of tokens during the price drop, indicating their confidence in a potential market rebound. Concurrently, the derivatives markets are showing a strong short bias, which could lead to short squeezes if ADA's price surpasses key resistance levels.