TLDR
- ADA price down 8.82% to $0.9914 in 24 hours
- Valar bought 10 million ADA tokens during the dip
- Cardano saw a 300% increase by the end of 2024
- Grayscale has $11 million worth of ADA
- Stock to flow ratio increased to 291.37
Recent market data shows that Cardano (ADA) is experiencing price volatility amid increased election activity and growing institutional interest. The cryptocurrency fell by 8.82% in the last 24 hours to reach $0.9914 from its previous level of $1.15.
During this price correction, large holders, commonly known as whales, acquired 10 million ADA tokens, according to cryptoanalyst Ali Martinez. This accumulation occurred as prices hit a temporary low of $0.98.
Valar bought 10 million #Cardano $ADA in the last 24 hours! pic.twitter.com/k7s2l00E1R
— Ali (@ali_charts) January 7, 2025
The latest price move follows an impressive performance at the end of 2024, when ADA recorded a 300% increase. The token ended the year at $0.80 before climbing to $1.14 in early January 2025.
Institutional commitment in Cardano has increased, with Grayscale’s Digital Large Cap Fund (GDLC) adding ADA back to its portfolio. The fund currently holds over $11 million in ADA tokens, marking a notable institutional position in the cryptocurrency.
Technical indicators suggest continued buyer interest despite the recent price decline. Stock to Flow Ratio (SFR) has risen to 291.37, indicating increased scarcity in the market.
Before the current correction, ADA showed a strong weekly performance with an increase of 16.92%. This upward momentum attracted the attention of both private and institutional investors.
The ADA/BTC trading pair has turned positive, indicating relative strength compared to Bitcoin. This achievement comes at a time when Bitcoin is approaching what some analysts describe as a high-risk zone.
Market data indicates that ADA touched a high of $1.33 during its late-2024 rally. The current price represents a pullback from those levels, although it remains above the year-end price of $0.80.
The token’s price movement has shown resilience over various market cycles. Starting from lower levels in early 2024, ADA has maintained an overall upward trajectory despite periodic corrections.
Option activity during price falls indicates confidence in ADA’s market position. These large holders typically accumulate during price corrections and view them as buying opportunities.
The presence of institutional investors such as Grayscale adds a layer of market validation. Their $11 million ADA position represents a measured cryptocurrency investment strategy.
Current trading volumes remain stable despite the price correction. Market players continue to show interest in different price levels.
The Stock to Flow Ratio’s rise to 291.37 provides a technical perspective on ADA’s market dynamics. This metric helps traders and investors assess the relationship between supply and demand.
Trading data shows that support levels are forming near the current price point of $0.9914. This level represents an important area of interest for market participants.
Recent data indicates continued option accumulation at these price levels, with the purchase of 10 million ADAs occurring within the last 24 hours.
