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Data from the Cardano blockchain shows that whales who have a balance at least of 100 million coins accumulated 200M ADA over the past 2 days.
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The Midnight Upgrade is a major upgrade that will boost Cardano on-chain activity and further strengthen the bullish outlook.
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According to a technical analysis, the ADA/USD pair followed a similar fractal structure as the 2021 bull’s cycle.
Cardano’s (ADA) price has slowly signaled a macro and midterm bullish outlook. The altcoin with a fully-diluted valuation of approximately $36.9billion has rallied 12% over the last seven days, trading at around $0.822 during the early London session on Monday, August 11.
This recent rebound was marked with a daily “golden crossing” between the Simple Moving Averages 50 and 100. The weekly MACD indicator has also flashed an buy signal, confirming the mid-term bullish trend.
Today’s ADA Outlook: Long-term chart looks bullish but what about now? Here is CoinEdition’s price prediction for ADA on August 9.
During the bullish histograms, the MACD line and Signal line crossed over the zero line. The recent price recovery of Ethereum (ETH) above $4,200 has boosted the odds for a macro altseason.
Whales are aggressively buying ADA
Since the beginning of 2025, Cardano demand has been increasing. According to CoinGlass data, Cardano Futures Open Interest (OI), has risen from $238 million in Nov 2024 to $1.41 billion now.
The aggressive spot-buying by whales coincides with the rising interest of derivatives traders. In the last two days, Cardano wallets that hold between 100 million and one billion coins have accumulated 200 million ADA. This buying spree brings their total net holdings up to 3.72 billion coins.
Gambardello’s Take on ADA Rally to $10
According to crypto analyst Dan Gambardello ADA is well positioned to rally 10x during the anticipated altseason of 2025.
Gambardello subscribed a theory coined Ali Martinez, that the ADA has been following a fractal pattern similar to the previous bull cycle.
Gambardello believes that the ADA will likely reach a peak between $5 and $10 before entering the next major phase of the bear market. If Cardano reaches XRP’s $193 billion market cap, the ADA will reach $5.36.
The Founder’s Take: Charts look bullish but what does the man who is in charge think? Charles Hoskinson has set his own bold price targets.
Watch for ADA’s Fundamental Catalysts
Coin Edition reported that the Cardano eco-system is preparing to undergo a major upgrade called Midnight by the end of 2025. According to Cardano’s founder Charles Hoskinson the upcoming Midnight Upgrade is expected to propel ADA to a new level of mainstream adoption.
Cardano will also benefit this summer from the anticipated crypto ETF approval in the United States. Grayscale Investment and Tuttle Capital filed spot ADA-based ETFs at the U.S. Securities and Exchange Commission.
What’s the upside? ADA’s price targets are high, but what does that mean for you? Here’s how a $1,000 investment could grow.
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