Cardano Whales Offload 190M ADA in 7 Days, Pushing ADA to $0.172

Per Santiment Supply Distribution data, Cardano whales holding between 100,000 and 100 million ADA collectively offloaded 190 million tokens over 7 days since July 1, pushing the asset to $0.172 on July 8 and extending its losing streak to four consecutive days. The distribution spans three distinct whale cohorts: wallets holding 100K–1M ADA, 1M–10M ADA, and 10M–100M ADA all resumed offloading following a brief recovery last week.

Derivatives data from CoinGlass reinforces the bearish positioning. ADA's funding rate flipped negative at -0.0060% on an OI-weighted basis, signaling that shorts are being paid to hold positions. The long-to-short ratio stands at 0.79—near a one-month low and below the neutral 1.0 threshold—indicating more traders are positioned short than long.