110,000,000 ADA sold by Cardano whales: Is a bigger drop coming?

Cardano (ADA) has fallen 15.70% over the past seven days to approximately $0.234, as large investors reduced their holdings by more than 110 million tokens and network participation weakened.

Crypto analyst Ali Martinez reported on October 13 that Cardano whales had sold more than 110 million ADA over five days, citing Santiment data. The selling coincided with a 41.36% decline in daily active addresses, raising concerns about continued weakness in the cryptocurrency. ADA has since moved below the $0.24 support level identified in the analyst’s chart, bringing the $0.21 area into focus.

Cardano price falls as whales sell over 110 million ADA

According to the analyst’s Santiment figures, large ADA holders reduced their combined holdings by more than 110 million tokens during the five-day observation period. At the reported price of $0.234, those tokens would have a market value of approximately $25.7 million, although that calculation does not establish their actual selling prices.

2/5 Cardano whales have been reducing their holdings.

Over the past five days, large holders have offloaded more than 110 million $ADA, adding selling pressure as price approaches a key support level. pic.twitter.com/gDeqlDseU8

— Ali Charts (@alicharts) October 12, 2026

The figures came as Cardano’s daily active addresses declined from 27,248 to 15,977, representing a 41.36% decrease. Martinez linked the lower address activity and whale selling to weakening participation, warning that the cryptocurrency could face further pressure if its existing price structure failed to hold.

According to CoinGecko, ADA traded near $0.234 at press time, down 6.65% over 24 hours. Its market capitalization stood near $8.78 billion, while daily trading volume reached approximately $530.8 million. The token ranked 17th among cryptocurrencies by market value.

Trading activity increased during the selloff. A separate CoinGecko observation placed 24-hour volume at $533.3 million, representing a 40.60% increase from the previous day. The cryptocurrency remained approximately 92.42% below its historical peak of $3.09, with its current valuation near the lower end of its recent trading range.

Martinez identified the $0.24 area as an important support level within Cardano’s ascending price channel. With ADA trading below that threshold, his analysis identified the channel’s lower boundary near $0.21 as a possible downside target. His projection is conditional on the price continuing to weaken and does not establish that another decline will occur.

Previous Cardano price analysis around $0.21 support identified a similar risk following the cryptocurrency’s rejection near $0.28 in early October. The October 8 analysis placed ADA around $0.232, with daily momentum indicators weakening as the token approached its lower channel boundary.

ADA technical indicators show fading buying momentum

On the daily chart, Cardano traded at approximately $0.23388 following a modest intraday recovery. The cryptocurrency had recovered from June lows near 0.14–0.15 and formed a series of higher lows through September. However, its advance stalled below the resistance region between $0.28 and $0.37.

Immediate support on the chart appeared between $0.22 and $0.23, followed by $0.20. Resistance stood around 0.25–0.28, with a sustained move above $0.28 required to improve the recovery structure. The levels differ slightly from Martinez’s $0.21 channel target because the two analyses use separate technical reference points.

The Know Sure Thing indicator stood at 120.4649, below its signal line of 163.5224. Although both readings remained positive, the indicator’s downward movement and bearish crossover showed that buying momentum had weakened during the recent price decline.

Meanwhile, the Awesome Oscillator registered 0.00653, remaining slightly above its zero line. Shrinking positive histogram bars indicated that upward momentum was fading, even though the indicator had not turned negative in the supplied reading.

A separate Cardano technical assessment of the $0.24 support zone published October 12 identified support between $0.224 and $0.240. The report recorded negative daily MACD momentum and overhead liquidation concentrations around 0.258–0.262, providing additional price levels for traders monitoring ADA’s recovery.

Cardano records 1.78 million transactions in five days

Despite lower daily active addresses in the period examined by Martinez, Cardano recorded its highest transaction count for a five-day epoch. Blockchain analytics platform Cexplorer reported that Epoch 660 processed 1,780,896 transactions between October 6 and October 11.

A NEW RECORD! 🥳

Cardano $ADA processed 1,780,896 transactions in Epoch 660.

It's the new record, surpassing the previous 1,566,974 transactions record from Epoch 304.

Also some cool stats:
– On average each block had 83.83 transactions
– Cardano made ₳ 337.72k in fees pic.twitter.com/og4wr2Xukj

— Cexplorer.io 🅰️ (@cexplorer_io) October 12, 2026

The total exceeded the previous record of 1,566,974 transactions set during Epoch 304 in November 2021. Cexplorer recorded an average of 83.83 transactions per block, while network fees during Epoch 660 reached approximately 337,720 ADA. The average transaction fee was around 0.19 ADA, equivalent to approximately $0.05 at the reported valuation.

The increase coincided with governance voting activity involving Cardano’s Delegated Representatives, who participate in decisions about network operations and treasury spending. Proposals under consideration included changes to the minimum cost charged by stake pool operators.

Although the voting period ended during the record-setting epoch, the available data does not establish how many of the 1.78 million transactions were directly generated by voting activity. Cardano’s transaction total measures processed blockchain operations, while daily active addresses track participating wallets under a different methodology.

Cardano Card to close on October 31 as Wirex changes model

Meanwhile, the Cardano Card program has announced plans to discontinue its existing payment services on October 31, 2026. The project’s official account confirmed the scheduled closure, explaining that payment partner Wirex was moving away from its existing custodial infrastructure.

Important update for Cardano Card holders:

The Cardano Card will be discontinued on 31 Oct 2026. Your card will keep working as normal until then.

Wirex, our partner on the Cardano Card program, is moving to a non-custodial model and discontinuing its custodial infrastructure.…

— Cardano Card (@cardano_card) October 13, 2026

According to the announcement, the Cardano Card will continue operating under its current arrangements until the cutoff. The project said customers directly affected by the change should contact its team and await further instructions concerning the transition. No replacement provider or new launch date was confirmed.

The payment card originated from a November 2025 partnership between EMURGO and Wirex, which announced the product during the Cardano Summit. The service was integrated into the Wirex application, whose platform served more than six million customers across 130 countries at the time.

The program was designed to let eligible users spend ADA and other supported digital assets through existing payment networks. It offered access to cryptocurrency payments, account services and certain rewards through the Wirex platform.

The October 31 closure follows Wirex’s decision to move toward a non-custodial operating model, which ends the existing partnership arrangement. Cardano Card said further information about its future services would be shared after the transition plans had been reviewed. The announcement did not confirm whether a replacement card or another payment provider would be introduced.