Can Cardano Price Hold $0.20? Whale Selling Triggers Fresh Market Jitters

Key Highlights: The Cardano price rebounds to $0.2176 on Friday, following a sharp 6% sell-off the previous day. Mid-tier whales (10M–100M ADA) reduced supply dominance from 38.27% to 37.93%, reinforcing sell-side sentiment. The open interest tied to ADA’s futures contracts recorded a steep contraction of 30% within three weeks, indicating a significant long liquidation and lack of conviction among derivative traders. ADA, the native cryptocurrency of the Cardano ecosystem, saw a 2% uptick during Friday’s Asian market hours, following a 6% decline the previous day.