Cardano Slides to Key Support as Whales Dump 260M ADA and Funding Turns Negative

Whale distribution plus negative funding leave ADA testing the $0.25–$0.26 floor with $0.24 in view.

Overview

Cardano is trading around $0.26–$0.28 after a fresh drop, sitting below all major daily EMAs and a descending trendline.
On-chain data from Santiment show wallets holding 100,000–100 million ADA sold roughly 260 million tokens since February 24.
Derivatives funding near -0.009% signals short sellers paying longs, pointing to prevailing bearish positioning.
Key levels to watch now include resistance at $0.29–$0.31 (then $0.32–$0.33) and support at $0.25–$0.26, with ~$0.24 eyed on a breakdown.
Cardano founder Charles Hoskinson condemned the proposed U.S. CLARITY Act as harmful to crypto innovation, adding a regulatory overhang to sentiment.