Cardano (ADA) has experienced major sell-offs from whale investors, totaling 55 million ADA. This activity comes as the cryptocurrency faces overbought conditions and as a scheduled token unlock looms. Such developments have sparked notable fluctuations in Cardano's market behavior.
The sell-off by ADA whales suggests a strategic move to offload holdings amid concerns about potential downward pressure on prices due to excessive supply once the token unlock occurs.
Market analysts are closely watching the situation, as these sell-offs and the token unlock could influence ADA price volatility in the near term.
