After a period of mirroring the overall market downturn, Cardano's native token, ADA, saw a sudden and significant price increase on August 22nd. This rally was reportedly driven by large-scale buying from major investors, known as "whales."
According to crypto analyst Ali Martinez, these whales accumulated 180 million ADA in just 24 hours, signaling their confidence in the asset despite the recent market slump. Over the course of two days, the total value of the ADA purchased was over $167 million. This aggressive buying suggests that large holders were strategically "buying the dip."
Following this massive accumulation, ADA's price surged by over 9%, hitting an intraday high of $0.93 after touching a low of $0.82. This positive performance has led to increased optimism among investors, with some analysts predicting further price rallies. The article also notes that recent trends suggest a growing interest in Cardano from institutional investors, which could be a factor in this renewed confidence.
August 2025, Cryptoniteuae