Cardano climbs 6% as whale wallets accumulate 30 million ADA

Cardano rose 6% this week to test a multi-month downtrend as whale wallets accumulated more than 30 million ADA over the past seven days.

"Cardano's ecosystem continues to grow beyond price action. Tokenized real-world assets on the network have climbed to around $55.3 million, while whale wallets accumulated more than 30 million ADA over the past week," Don Digital Finance (@niroshan682) posted on X on Aug. 1.

The accumulation came as Cardano traded well below its yearly highs, with buyers defending the $0.16-$0.17 demand zone. The Relative Strength Index reclaimed the bullish territory above 50, while trading volume rose alongside price, according to the on-chain update.

The first major hurdle sits near $0.24-$0.25, where horizontal resistance aligns with a heavy supply zone. A decisive breakout above that region could trigger fresh momentum buying and open the door for a rally toward $0.30, which would mark Cardano's strongest recovery in several months. Losing the $0.16 support would weaken the bullish setup and raise the risk of renewed consolidation.

Whale accumulation near major support zones often reflects growing confidence among long-term holders. Cardano's tokenized RWA ecosystem, which brings real-world assets on-chain, has expanded to roughly $55.3 million, suggesting utility broadening beyond traditional DeFi applications. The steady growth in tokenized assets strengthens Cardano's long-term investment narrative as the sector competes with Ethereum-based RWA platforms.

Cardano has repeatedly defended the $0.16-$0.17 demand zone and started printing higher lows while challenging a descending trendline that has capped every rally since early 2026. This improving structure suggests buyers are gradually taking control of the broader trend.

The combination of whale accumulation, rising RWA adoption, and an increasingly bullish chart structure points toward growing market confidence. While bulls still need to clear significant resistance overhead, a successful breakout above the current downtrend could shift momentum decisively in ADA's favor. If buying pressure continues to build, $0.30 is emerging as the next major upside target traders will be watching.

This article is for informational purposes only and does not constitute investment advice.