TL;DR
- Wallets holding between 1 million and 10 million ADA fell from 2,370 to 2,340 in nine days as large holders took profits.
- ADA slipped from above $0.202 to $0.188 while exchange supply increased, the MVRV ratio formed a death cross and TD Sequential flashed a sell signal.
- Buyers now face a key test at $0.170, with a deeper breakdown potentially exposing the lower support range near $0.144.
Cardano’s largest holders are pulling back after ADA’s recent local rally, with wallets holding between 1 million and 10 million tokens declining from 2,370 to 2,340 in only nine days. Blockchain analyst Ali Martinez interpreted the drop as evidence that whales were taking profits near the peak, leaving the market with less support from large capital. The timing is difficult to ignore because the selloff arrived just as ADA failed to sustain its local high. The token slipped from above $0.202 to $0.188 as pressure from major holders intensified.
2/6 Since August 2, the number of whales holding between 1 million and 10 million $ADA has fallen from 2,370 to 2,340.
This suggests some large holders may be taking profits or redistributing after the recent price increase. pic.twitter.com/nPitmqWqdk
— Ali Charts (@alicharts) August 11, 2026
Whale exits collide with bearish technical signals
The retreat by large holders is being reinforced by on-chain deterioration. Exchange supply rose sharply while Cardano’s MVRV ratio crossed below its seven-day simple moving average, creating what the report described as a death cross. That combination suggests whale selling is not occurring in isolation, but alongside weakening market structure. The article argues that upward momentum has been exhausted, making the behavior of million-ADA wallets especially relevant because their reduction in exposure removes a layer of buying power that had helped support ADA during its recent advance.
Technical indicators are adding another layer of caution. On the daily chart, the Tom DeMark Sequential system produced a bearish countdown sell signal, reinforcing the view that large holders may have moved before broader market weakness became obvious. The next critical question is whether buyers can defend $0.170 as ADA moves deeper into its trading range. If selling pressure continues, that level represents the nearest zone of significant contention, making it an important test of whether retail demand can absorb the supply being released by wealthier Cardano holders.
A deeper break would make the outlook more severe. If $0.170 fails and retail investors begin following whales out of the market, ADA could slide toward the bottom of its horizontal range near $0.144, a move the report says would represent a full trend reversal. The broader risk is that whale profit-taking becomes a self-reinforcing decline if smaller holders begin to panic. For now, Cardano’s resilience depends on whether buyers can stabilize the token before the selling by millionaires, rising exchange supply and bearish technical signals combine into a more sustained correction. That makes the support test particularly consequential for traders assessing whether whale exits have changed ADA’s trajectory.
