Cardano slips 7% as wallets buy 160 million ADA during downturn

Cardano’s ADA token traded near $0.210 on Friday after falling more than 7% over the week and dropping below $0.220. Addresses holding between 10 million and 100 million ADA accumulated 160 million tokens since Sunday, according to Santiment, but the buying has not stopped the decline. Derivatives indicators remain divided: CoinGlass recorded a long-to-short ratio of 0.74, signaling that more traders are positioned for further weakness, while the funding rate turned positive at 0.0013% by Friday’s close, indicating that long-position holders were paying short holders. CryptoQuant also reported substantial whale-sized futures orders alongside continuing sell-side pressure. ADA remains above its 50-day and 100-day exponential moving averages (trend gauges) at $0.190 and $0.197, respectively, although weakening momentum is reflected in the Relative Strength Index moving toward the upper-50s and a compressing MACD histogram. Resistance stands at $0.213, $0.231, $0.236 and the 200-day EMA at $0.246, while support is at $0.195 and $0.173; a decisive break below that support cluster could expose $0.150. Market analyst Sssebi said a weekly close above a key resistance trendline would signal the start of a substantial upward move. Separately, Cardano’s 41-day Leios testnet trial reached six times the throughput of the current mainnet, handled 54% of total network traffic at peak stability, processed 18 times the mainnet transaction volume and carried 3.3 times the data volume. The team said all testing problems stemmed from implementation code rather than fundamental protocol design, and that weekly public software releases addressed them. Leios adds endorser blocks between blocks produced by the Ouroboros Praos consensus mechanism to support parallel transaction processing. The next testing phase, Water, has begun with incentives for stake pool operators.

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