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$ADA

Battle for Cardano: Whales sell, retail buys, and shorts step up bets BlockNews

- ADA collapsed 7.6% overnight, but still shows a gain of nearly 29% for the month.

Whales are selling, retailers are buying, and shorts are increasing their bets, creating a tense situation.

break below $ 0.68 = difficulty. A break above $ 0.78 = short-squeeze potential.

#Cardano has seen better days. After a nearly 30% rise over the past month, a significant drop of 7.6% has followed in the past 24 hours. Traders are in a strange position right now: a mix of hope and hope.

Behind the decline lies a more difficult struggle. The biggest whales are shrinking their holdings little by little. Retail investors? Still have faith in the asset. Meanwhile, short sellers in the derivatives markets are beginning to smell the scent of easy profits. All it takes is a spark in this clash for things to change dramatically.

According to onchain analytics, Cardano "superkits"-those with more than a billion ADA-have reduced their stakes from 5.43% to 5.02% since the end of June. Sounds small, but in the world of whales, even a 0.4% shift is serious.

In addition, online activity is down. It has decreased significantly. Since mid-July, the number of active addresses has dropped more than 40%, from 42,000 to less than 25,000. This slowdown started right after #ADA hit $ 0.92, which now looks to be a local high. That's probably why the whales are quiet too - they're looking at the same data we are.

Even as the whales retreat, retail traders are not giving up. They've been pulling ADA off the exchanges for months now, indicating that they're more interested in hoarding than selling. It's usually bullish, a sign of confidence.

  transscreen.ru/en/news23905