Cardano Whales Accumulate Before August ETF as ADA Price Stays Low

The Cardano price is down 3.21% over the past 24 hours, trading near $0.228 and moving closely with Bitcoin’s broader decline. 

The weakness comes as risk appetite across the crypto market remains under pressure after U.S. spot Bitcoin ETFs recorded $1.42 billion in net outflows during the week ending May 29, marking the third straight week with withdrawals above $1 billion. 

Also, Cardano (ADA) faced a setback after the community voted against funding its flagship 2026 Singapore Summit. A request for 7.8 million ADA from the treasury was revised and put to a vote. It got 65.21% support. That was just short of the 66.67% needed to pass.

The outcome worried people about how well the ecosystem can work together. It also added to the negative mood around ADA. Despite these challenges, new on-chain data shows whales continue to increase their holdings as investors watch for potential catalysts later this year.

Cardano Whales Continue Buying ADA

A post from BeInCrypto pointed to growing accumulation among Cardano’s largest holders despite the weak price action. Data shows wallets holding between 10 million and 100 million ADA increased their share of the circulating supply from 36.48% on May 11 to 37.23%. That represents a 0.75 percentage-point increase in ownership within less than three weeks.

The data becomes more interesting when viewed alongside network activity. Active Cardano addresses went up 14% to about 17,500. That means people kept using the network even as the ADA price fell. When you see more activity and whales buying at the same time, it often means big investors are getting ready for something.

One other detail stands out. The buying started about 18 days before the community vote that ended up rejecting the Singapore Summit funding. Since the accumulation began before that negative event, it appears whales were focused on factors beyond the governance outcome. 

Some market participants believe these investors may be positioning ahead of Cardano’s potential eligibility for an ETF-related development expected later this summer, though that remains speculative at this stage.

What the ADA Chart Is Showing

We had a look at the chart, and the trend remains bearish. The Cardano price has been making lower highs and lower lows throughout May and into early June. After hitting a high near $0.286 in mid-May, sellers slowly took over and pushed the token down to the $0.22 area.

The momentum numbers look weak too. The upper oscillator is around 50, which means neutral momentum with no strong turn upward yet. The RSI at the bottom of the chart has dropped to about 33. That is close to oversold territory. It shows selling pressure has gotten stronger over the last several sessions.

The drop to $0.22 matters on the chart. That is an important technical zone.. If buyers defend this zone, the ADA price could attempt a relief bounce toward resistance around $0.235 and then $0.25. To turn things around, the price would need to climb above those levels first.

If selling keeps going and the $0.22 support breaks, the next targets could be near $0.21 or lower. For now, the chart says be careful. Wait for more buying volume or for the momentum numbers to start pointing up.

Related Cardano News: Cardano’s Hoskinson Fires Back at Frustrated ADA Holders: Stop Complaining About Price

News Driving the ADA Price

The biggest news affecting mood is that the 2026 Cardano Summit in Singapore got canceled. A proposal asked the treasury for 7.8 million ADA, worth about $1.84 million. It got 65.2% approval but missed the 66.67% needed. 

That was the second time a funding request failed. It showed there are disagreements inside the governance process. On one hand, the vote shows the treasury is careful with money. On the other hand, it raises questions about whether the ecosystem can pull off big projects.

Investors are also watching what happens with rules in the United States. The CLARITY Act is expected to face a vote in June 2026. If passed, it would set clearer rules for digital assets by calling certain cryptocurrencies commodities. That would remove a big unknown for big investors and help projects like Cardano, XRP, and Solana.

Another good sign is the upcoming Ouroboros Leios upgrade. That scaling solution is expected to enter testnet this month. It aims to boost network throughput by 10 to 65 times, with targets over 1,000 transactions per second. 

If testing goes well, the upgrade could help Cardano compete better in DeFi and bring more people onto the network.

Still, the ADA price is feeling the weight from the failed summit vote and a weak crypto market. But there are good signs too. Whales are buying. Network activity is up. New rules are coming. And the Leios upgrade is on the horizon. So investors have plenty of reasons to keep an eye on Cardano over the next few months.

Frequently Asked Questions

Why are ADA holders frustrated

ADA is down over 90% from its ATH. Meanwhile, ETH, XRP, and Solana hit new all‑time highs in 2024‑2025. Even Dogecoin got closer to its 2021 peak.

Does Cardano ADA have a future

Yes, but its future depends on successful delivery of long‑promised upgrades (Leios scaling, SecondFi chain abstraction) and attracting real DeFi usage, rather than price speculation. Current on‑chain activity is low, but development and governance remain active, so survival is likely – though a return to $3 is not guaranteed.