Cardano Looks Dormant, But Whales Quietly Scoop Up $200 Million Worth of ADA

• Cardano (ADA) whales accumulated 348 million ADA worth $204.3 million in four days, marking the strongest buying wave since May 2025.
• Historical data shows ADA rallies of 200–300% often follow long consolidation phases, mirroring the current market setup.
• With the Cardano Summit 2025 approaching, investor optimism may rise despite cautious market sentiment and low altcoin strength.

Although Cardano (ADA) remains among the top 10 altcoins by market cap, its price is still hovering around 2024 levels. While many holders express disappointment with ADA’s performance, accumulation continues quietly beneath the surface.

What evidence supports this trend, and what impact could it have? The following analysis draws on on-chain data and expert insights.

How Have Cardano (ADA) Whales Been Accumulating in November? {#h-how-have-cardano-ada-whales-been-accumulating-in-november}

Data from Santiment shows that “whales” and “sharks” — investors holding between 100,000 and 100 million ADA — have been accumulating heavily in a short period.

Over the past four days, these large holders have purchased 348 million ADA, valued at approximately $204.3 million, which represents 0.94% of the total ADA supply. Cardano Whales Accumulation. Source: Santiment

This marks the strongest accumulation since May. Notably, this buying activity comes as ADA’s price has corrected by more than 30% from last month and remains below $ 0.60.

While many retail investors appear to have exited, whales seem to view the pullback as a chance to secure better entry positions. With smaller traders sidelined, smart money is accumulating quietly, creating minimal volatility. Analysts see this as a potential signal for an upcoming bullish phase.

“While many call Cardano (ADA) ‘dormant,’ the charts whisper a different story — millions of ADA are quietly being scooped up by whales and institutions. On-chain data shows this ‘silence’ isn’t weakness — it’s precision accumulation. With retail out of the picture, smart money is loading up without triggering alarms.” — BeLaunch commented.

Historical Patterns Suggest Possible Rally

Historical ADA price patterns suggest that strong rallies frequently follow extended consolidation periods of approximately ten months.

The DApp Analyst highlighted this trend, comparing 2025’s behavior with that of the previous two years. In both 2023 and 2024, ADA experienced powerful bull runs following prolonged consolidation phases, delivering gains of 200% to 300%. Comparing ADA Price Models in 2023, 2024, and 2025. Source: The DApp Analyst

Now, in October 2025, conditions appear similar to those of historical setups — potentially forming a base for another upward move. Combined with current whale accumulation, this alignment strengthens the bullish outlook.

“Will 2025 be like '23 & '24? $ADA has spent the entire year consolidating between $0.5 and $1.3. Can we finally get a breakout?” — The DApp Analyst questioned.

November also brings the Cardano Summit 2025 in Berlin. Statements from project leaders at the event are expected to renew optimism among ADA investors this month.

However, overall market sentiment remains cautious. The altcoin season index sits at a low 39 points, reflecting lingering fear — a potential headwind for ADA’s recovery despite growing accumulation and bullish setups.