40 Million Cardano (ADA) in 48 Hours: Whales Bullish?

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It appears that the magnificent world of Cardano (ADA) is being graced by the shadowy figures of whales once again. In the past 48 hours, the crypto seas have seen these majestic creatures devour more than 40 million ADA, a rather large snack, wouldn’t you say? And why might they do such a thing? Oh, no biggie, just a little signal of potential bullish sentiment. Who could have guessed? 🙄

But this activity isn’t merely a coincidence. No, dear reader, it’s happening at a rather significant juncture for Cardano. As the price swings one way and the network evolves in another, something is stirring in the depths. Recently, in an ever-so-thoughtful post on X, Cardano’s founder, Charles Hoskinson, took a moment to share his wisdom on the project’s path forward. Quite the philosopher, isn’t he? 😏

In his May 10th tweet, Hoskinson addressed the ADA community (a fan base as loyal as any, I must say), saying, “We are at a very exciting inflection point with respect to Cardano’s engineering and the diversity of ideas and teams.” Aha! An inflection point, indeed! You can almost hear the dramatic music in the background. He also acknowledged the early days of Cardano, where the emphasis on security and effectiveness — while nice — also, shall we say, ‘slowed things down’ and made contributors feel like they were on a never-ending treadmill of bureaucracy. How delightful. 🙄

And now, in 2025, it seems that the Cardano ship is steering towards smoother waters. According to Hoskinson, the ecosystem is being “augmented with small agile teams like Aiken and Midgard.” It’s almost as though we’re finally out of the Stone Age, and Cardano is ready for its Renaissance. Meanwhile, Input-Output Research (IOR) and their Agda-based methods are diligently holding the fort of knowledge and rigor. The future is bright, or so it seems. 🌟

Cardano price action

As for Cardano’s price action, May 8th proved to be a day of triumph, as ADA pulled itself up from the 50-day SMA at $0.67, completing an inverse head-and-shoulders pattern — quite the dramatic form, isn’t it? With the broader crypto market also in a rally, ADA soared higher, reaching past the 200-day SMA at $0.79, which had previously been a bit of a ceiling for its lofty ambitions in late March. A victory, one might say. 💪

But, alas, the triumph was short-lived. By the early hours of Sunday, ADA peaked at $0.846 before meeting resistance, as all good stories must. Now, at the time of writing, ADA has moderated slightly, ticking up by a modest 0.56% in the last 24 hours, bringing the price to $0.801. But worry not, for it’s still up 16% for the week. Talk about a rollercoaster ride! 🎢

The RSI stays in positive territory, signaling a favorable outlook for buyers. If the price stays above those moving averages, we might just see ADA rise to $1. If the bears want to put an end to this joyride, they’ll need to push the price below the 50-day SMA at $0.676. Should that happen, we may witness ADA tumbling down to $0.60, or — dare I say it — $0.50. Hold onto your hats! 🧢

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2025-05-11 16:39