• Cardano whales accumulate 100M ADA, signaling strong confidence in the project’s long-term growth.
• Price outlook shows 1200% upside, with targets from $1.16 to a potential $10 breakout.
• Derivatives activity cools, as trading volume drops 28.85% and open interest declines 5.27%.

Cardano (ADA) is showing renewed momentum in the crypto market. At the time of writing, ADA is trading at $0.8675, with a 24-hour trading volume of $3.17 billion and a market capitalization of $30.92 billion. The token has gained 0.73% in the past 24 hours, signaling cautious optimism among investors.

Whale Activity Strengthens Cardano Market Outlook

On-chain data from well-known crypto analyst Ali Martinez pointed out that large holders, or whales, increased their portfolios by 100 million ADA in the past 24 hours. Such accumulation is often seen as a vote of confidence in the long-term future of a project.

Cardano Path Shows 1200% Upside Ahead

Adding to the excitement, crypto analyst Crypto Patel highlighted a potential bullish path for ADA. According to his analysis, if Cardano flips $1.16 into support, it could pave the way for higher price targets ahead. His chart illustrates a possible trajectory of $1.16 → $2.68 → $5 → $10, which represents a potential 1,200% increase from current levels.

Patel pointed out that the price of Cardano has remained stable above a multi-year trendline, which still provides a solid foundation for support in the days ahead. Nonetheless, he cautioned that the community must be patient and practice proper risk management in unpredictable markets.

With whale accumulation and bullish technical formations in place, ADA appears poised for a decisive breakout. Whether ADA is strong enough to breach key resistance levels could ultimately determine its fate in the coming months.

Also Read | Cardano (ADA) Rebound Signals Bullish Breakout Potential Toward $10

Cardano Derivatives Show Cooling Activity

The derivatives segment of Cardano is down as both volume and open interest declined. Volume dropped 28.85% to $4.44B, while open interest fell 5.27% to $1.60B. Investors are stepping aside, closing positions, and showing less interest in bullish exposure to ADA shortly. This decline reflects a defensive strategy in the marketplace, with total participation unwinding.

The OI-Weighted funding rate is at 0.0078%, representing a mild long-position bias. It implies that some investors are still placing bets on upside potential despite the waning overall market action. The slightly positive rate suggests cautious optimism, indicating some buying interest but a lack of strong conviction.

Also Read | Cardano Futures Volume Surges $6.96 Billion, ADA Eyes Explosive $1 Breakout