Key takeaways
Did Cardano whales buy the dip after the crash?
Wallets containing 10 million to 100 million ADA rose sharply from October 10 to 11.
What do derivatives data say about trader sentiment?
Funding rates turned positive after the crash, so traders cautiously turned to the upside again.
Cardano [ADA] The stock price stabilized on October 11 after a sharp 20% sell-off, as whale investors bought the dip during broader market turmoil.
In fact, major bondholders raised millions from ADA during the recession, helping to limit further losses and bringing early signs of a potential recovery.
Cardano bounces back after the quick liquidation
In the following hours A record $19 billion cryptocurrency market liquidation event occurred, ADA saw intense selling pressure that pushed the price to a low near $0.62.
Source: Trading View
The short-term RSI was around 45, while the Chaikin Money Flow (CMF) entered positive territory; Microaccumulation. As whales intervened, the coin stabilized around $0.645, beginning a temporary recovery.
Early signs suggest that ADA may try to regain momentum, but in the short term the market may remain cautious after the historic sell-off.
The whales are back
Between October 10 and 11, Santiment data showed a sharp rise in ADA holdings among wallets holding between 10 million and 100 million tokens, jumping from about 466 to 472 wallets.
Source: Santiment
This spike in large-cap headlines came right after market-wide liquidation, so whales may have taken advantage of the collapse to accumulate reduced ADA.
Buying by large investors often demonstrates long-term confidence in the asset and can help stabilize prices during times of extreme volatility.
Traders sleep with one eye open
After the historical collapse… Fennel The derivatives market showed a sharp decline in open interest (OI), falling sharply as leveraged positions were erased.
However, data from October 11 onwards showed gradual stabilization, with the OI stabilizing near 284 million.
Source: Queenalyze
At the same time, the financing rate turned back to positive 0.1544, reflecting renewed long-term exposure and improved trader sentiment.
This shift is in line with the return of whales to spot markets, suggesting that both derivatives and on-chain data point to cautious optimism.
