After a prolonged period of underperformance, Cardano's (ADA) whale wallets have started to show signs of recovery. According to on-chain metrics from Santiment, large investors have begun accumulating ADA again, even as the price continues to trade without a clear upward breakout.
The number of whale wallets holding at least 10 million ADA has increased by 5.92% in recent days, marking a significant change in behavior among Cardano's largest holders. This uptick often indicates renewed confidence among large investors, particularly when it occurs after an extended downtrend in price and sentiment.
Historically strong April performance may also be supporting the bullish thesis. According to CryptoRank, ADA has returned 14.1% on average during this month across past cycles.