Whales Liquidate 50 Million ADA Amidst Cautious Sentiment in Derivatives Market

Whale Activity and Market Pressure: Cardano whales sold 50 million ADA in 48 hours, indicating profit-taking at elevated price levels, which may pressure retail traders and challenge ADA's support zones.

Declining Derivatives Market Activity: ADA's derivatives volume decreased by 3.03% to $2.03B, with a significant drop in options trading, suggesting reduced trader appetite and caution in the market.

Long Position Vulnerability: Liquidation data shows that long positions accounted for $1.15M of the total $1.37M in ADA liquidations, highlighting risks associated with the current long-heavy market positioning.

Current Price Trends: As of the latest update, ADA was trading at $0.8163, reflecting a 0.31% daily decline and a 3.36% weekly drop, with ongoing whale selling likely to test near-term support levels.