Cardano Price Prediction: Whale Money Moves Out of Ethereum and Into ADA – $10 Target?
Main Idea
Whales are shifting investments from Ethereum to Cardano (ADA), anticipating a potential breakout rally and the approval of a Cardano spot ETF, which could drive ADA's price toward $10.
Key Points
1. Top 100 Ethereum whale wallets are profit-taking, while top 100 Cardano wallets are accumulating ADA, signaling bullish sentiment for Cardano.
2. A potential spot ADA ETF approval by the SEC, with a deadline of October 23, could unlock significant demand for Cardano.
3. Technical analysis shows ADA forming a descending triangle and flag pattern, with indicators like RSI and MACD suggesting a potential short-term uptrend.
4. Bloomberg analysts assign a 90% chance for a Cardano spot ETF approval by 2025, which could attract substantial institutional investment.
5. The CLARITY ACT, expected around October, may further support Cardano's market position and regulatory clarity.
Description
Cardano may be gearing up for a breakout, just as Ethereum cools off. As the top 100 Ethereum whale wallets have quietly started profit-taking, the top 100 Cardano wallets are accumulating, eying bullishness on the near-term Cardano price outlook . The leading altcoin has been losing the attention of smart money since May, with the total supply held by the top 100 wallets dropping by 9 million ETH to control just 19.6%. Percentage of Ethereum supply held by the top 100 holders. Source: X, @joao_...
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