- In the last 24 hours, whales have sold significant amounts of ADAs.
- Other major technical indicators in the derivatives market also affected the trend.
The feelings around Cardano (ADA) were especially weak because investors were sold last month. This can continue. According to the recent market revelation, it was found that continuous sales efforts were dominant.
Whales offer major Ada
In general, whales, which control the major supply of assets, have been sold for the past 48 hours, bringing total sales to 120 million.
When there is such a large -scale selling in the market, it means that you lack confidence, so the ADA is likely to keep a low trend.
Source: Santiment
In the derivatives market, sales pressure seemed more clear as the interest in the future and the option market continued to fall.
Press time data has shown 1.01%and 0.27%sliding in the last 24 hours, respectively, with $ 697.15 million and $ 374.92K, respectively.
Reducing the interest in the derivatives market means that the contract has been closed, and there are several factors, including the lack of trust and the long liquidation that contributes to the fall.
Source: COINGLASS
The volume of trading is mainly dominated by the seller, which refers to the high purchase volume of the first place and a strong sales pressure to less than 1, with a press time reading of 0.9767.
If there are more sellers than buyers in the market, it can affect the ADA falling unless the metric crosses again.
AMBCRYPTO has found that Defi investors are sold as the total value lock (TVL), which is used to assess the Cardano chain’s protocol value, is significantly plunged.
In April, $ 155 million in $ 339.5 million has decreased to $ 154 million in press time.
Source: Defillama
Defect investors will continue to unlock the ADA deposits over this protocol.
An optimistic opposition occurs
Despite its prevailing weakness in the market, SPOT Market Traders continued to accumulate assets last week.
According to the murder of AmbCrypto’s CoingLass’s Netflow data, traders continued to purchase and move their assets with their personal wallets to propose signs of long -term market promises.
Last week alone, $ 12.3 million ADA was purchased, and it was purchased according to the purchase of $ 47.5 million in ADA.
Source: COINGLASS
However, unless other major market sentiment moves in the direction, the influence of the on -site market traders has minimal impacts.