Cardano’s ADA Token Faces Ongoing Sell-Off Amid Investor Concerns
Cardano’s ADA token has seen a recent decline, with the price dropping for five straight days. It hit a low of $0.65, the lowest since may 8. This dip represents a 21% fall from the May peak and a 50% decrease from the November 2024 high.
On-chain data reveals that Cardano’s investors are growing restless.The number of ADA holders has reduced to 4.49 million from a peak of 4.55 million in May. Whales, or large investors, are also selling their tokens. those holding between 100 million and 1 billion coins now hold 3.02 billion, down from 3.4 billion in april.
This trend suggests whales are bracing for a further decline in ADA price. the number of tokens in profit has also dropped to 22.69 billion from 2
